Investors Sell Shares of Salesforce.com Inc (CRM) on Strength After Insider Selling
Traders sold shares of Salesforce.com Inc (NYSE:CRM) on strength during trading on Friday following insider selling activity. $86.88 million flowed into the stock on the tick-up and $118.96 million flowed out of the stock on the tick-down, for a money net flow of $32.08 million out of the stock. Of all companies tracked, Salesforce.com had the 0th highest net out-flow for the day. Salesforce.com traded up $0.82 for the day and closed at $93.42Specifically, insider Amy E. Weaver sold 1,400 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $87.04, for a total transaction of $121,856.00. Following the completion of the transaction, the insider now directly owns 16,513 shares in the company, valued at $1,437,291.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $86.00, for a total value of $860,000.00. Following the transaction, the chief executive officer now owns 34,195,300 shares of the company’s stock, valued at $2,940,795,800. The disclosure for this sale can be found here. Insiders have sold 577,032 shares of company stock valued at $52,745,027 in the last three months. Insiders own 6.20% of the company’s stock.
Several equities research analysts recently commented on the company. Northland Securities set a $105.00 price objective on Salesforce.com and gave the stock a “buy” rating in a report on Saturday, June 24th. Robert W. Baird reiterated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of Salesforce.com in a report on Wednesday, August 23rd. Drexel Hamilton reiterated a “buy” rating and issued a $111.00 price objective on shares of Salesforce.com in a report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Thursday, August 24th. Finally, UBS AG reiterated a “buy” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-six have given a buy rating to the stock. Salesforce.com currently has an average rating of “Buy” and a consensus price target of $102.52.
The company’s market capitalization is $67.14 billion. The firm has a 50 day moving average price of $93.14 and a 200 day moving average price of $88.31.
Salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm posted $0.24 EPS. Salesforce.com’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, equities analysts anticipate that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Analysts LLC grew its stake in Salesforce.com by 14.1% during the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after purchasing an additional 156 shares in the last quarter. Peddock Capital Advisors LLC grew its stake in Salesforce.com by 3,000.0% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after purchasing an additional 1,350 shares in the last quarter. People s United Financial Inc. grew its stake in Salesforce.com by 60.1% during the 2nd quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after purchasing an additional 550 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Salesforce.com during the 2nd quarter worth $130,000. Finally, Harfst & Associates Inc. acquired a new position in Salesforce.com during the 1st quarter worth $141,000. 86.06% of the stock is owned by hedge funds and other institutional investors.
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Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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