Traders Sell Shares of salesforce.com (CRM) on Strength on Insider Selling
Investors sold shares of salesforce.com, inc. (NYSE:CRM) on strength during trading hours on Thursday following insider selling activity. $129.09 million flowed into the stock on the tick-up and $209.41 million flowed out of the stock on the tick-down, for a money net flow of $80.32 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 $0.65 for the day and closed at $155.99Specifically, insider Parker Harris sold 6,331 shares of salesforce.com stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $145.80, for a total value of $923,059.80. Following the sale, the insider now directly owns 29,974 shares of the company’s stock, valued at $4,370,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig Conway sold 200 shares of salesforce.com stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $161.08, for a total value of $32,216.00. Following the completion of the sale, the director now directly owns 11,271 shares in the company, valued at $1,815,532.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 445,691 shares of company stock worth $70,458,306. 6.00% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $180.00 price target on shares of salesforce.com in a research note on Wednesday. Exane BNP Paribas assumed coverage on salesforce.com in a research note on Friday, March 29th. They issued an “outperform” rating on the stock. BNP Paribas assumed coverage on salesforce.com in a research note on Friday, March 29th. They issued an “outperform” rating on the stock. Mizuho assumed coverage on salesforce.com in a research note on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price target on the stock. Finally, Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. salesforce.com currently has an average rating of “Buy” and a consensus price target of $177.82.
The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.20. The stock has a market cap of $120.23 billion, a P/E ratio of 107.58, a price-to-earnings-growth ratio of 5.34 and a beta of 1.39.
A number of large investors have recently bought and sold shares of CRM. Clear Harbor Asset Management LLC raised its holdings in shares of salesforce.com by 9.7% in the 1st quarter. Clear Harbor Asset Management LLC now owns 5,658 shares of the CRM provider’s stock valued at $896,000 after buying an additional 500 shares during the period. Watch Point Trust Co raised its holdings in shares of salesforce.com by 15.9% in the 1st quarter. Watch Point Trust Co now owns 27,249 shares of the CRM provider’s stock valued at $4,316,000 after buying an additional 3,738 shares during the period. Starfire Investment Advisers Inc. purchased a new stake in shares of salesforce.com in the 1st quarter valued at $271,000. Renaissance Investment Group LLC purchased a new stake in shares of salesforce.com in the 1st quarter valued at $214,000. Finally, Strs Ohio raised its holdings in shares of salesforce.com by 0.5% in the 1st quarter. Strs Ohio now owns 979,129 shares of the CRM provider’s stock valued at $155,064,000 after buying an additional 5,210 shares during the period. Institutional investors own 83.02% of the company’s stock.
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salesforce.com Company Profile (NYSE:CRM)
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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