Burke F. Norton Sells 1,983 Shares of Salesforce.com Inc. (CRM) Stock
Salesforce.com Inc. (NYSE:CRM) EVP Burke F. Norton sold 1,983 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $73.03, for a total value of $144,818.49. Following the transaction, the executive vice president now directly owns 77,168 shares of the company’s stock, valued at approximately $5,635,579.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Salesforce.com Inc. (NYSE:CRM) opened at 72.00 on Thursday. Salesforce.com Inc. has a 52-week low of $52.60 and a 52-week high of $84.48. The firm’s 50-day moving average price is $74.25 and its 200-day moving average price is $77.52. The stock has a market cap of $50.16 billion, a P/E ratio of 244.07 and a beta of 1.55.
Salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business earned $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. Equities analysts predict that Salesforce.com Inc. will post $0.98 EPS for the current year.
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Several large investors have recently modified their holdings of CRM. ETRADE Capital Management LLC increased its stake in shares of Salesforce.com by 20.8% in the third quarter. ETRADE Capital Management LLC now owns 6,565 shares of the CRM provider’s stock worth $468,000 after buying an additional 1,131 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Salesforce.com during the third quarter worth about $9,398,000. Marvin & Palmer Associates Inc. increased its stake in shares of Salesforce.com by 90.8% in the third quarter. Marvin & Palmer Associates Inc. now owns 56,660 shares of the CRM provider’s stock worth $4,042,000 after buying an additional 26,960 shares during the last quarter. LPL Financial LLC increased its stake in shares of Salesforce.com by 6.2% in the third quarter. LPL Financial LLC now owns 26,626 shares of the CRM provider’s stock worth $1,934,000 after buying an additional 1,554 shares during the last quarter. Finally, Peloton Wealth Strategists acquired a new stake in shares of Salesforce.com during the third quarter worth about $2,040,000. 85.24% of the stock is owned by hedge funds and other institutional investors.
CRM has been the topic of a number of research reports. MKM Partners restated a “buy” rating and set a $96.00 price objective on shares of Salesforce.com in a research report on Friday, August 5th. Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price objective on the stock in a research report on Wednesday, August 10th. Piper Jaffray Cos. restated an “overweight” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, August 15th. Mizuho reiterated an “outperform” rating and issued a $100.00 price target on shares of Salesforce.com in a research report on Monday, August 15th. Finally, JMP Securities reiterated a “market perform” rating and issued a $92.00 price target on shares of Salesforce.com in a research report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and forty-two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $92.05.
Salesforce.com Company Profile
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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