Trade Report: The 12,500 Shares of Stock are sold by Insider Selling: Salesforce.com Inc. (CRM) Chairman

The 12,500 Shares of Stock are sold by Insider Selling: Salesforce.com Inc. (CRM) Chairman

Salesforce.com Inc. (NYSE:CRM) Chairman Marc Benioff sold 12,500 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $70.96, for a total value of $887,000.00. Following the transaction, the chairman now owns 35,033,000 shares of the company’s stock, valued at approximately $2,485,941,680. The transaction was disclosed in a filing with the SEC, which is available at this link.

Marc Benioff also recently made the following trade(s): On Thursday, October 6th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $71.17, for a total value of $889,625.00. On Wednesday, October 5th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $67.76, for a total value of $847,000.00. On Tuesday, October 4th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $70.90, for a total value of $1,772,500.00. On Friday, September 30th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $71.53, for a total value of $1,788,250.00. On Wednesday, September 28th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $71.04, for a total value of $888,000.00. On Tuesday, September 27th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $70.13, for a total value of $876,625.00. On Monday, September 26th, Marc Benioff sold 37,500 shares of Salesforce.com stock. The shares were sold at an average price of $71.95, for a total value of $2,698,125.00. On Wednesday, September 21st, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $73.39, for a total value of $917,375.00. On Tuesday, September 20th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $73.08, for a total value of $913,500.00. On Monday, September 19th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $73.36, for a total value of $1,834,000.00.

Salesforce.com Inc. (NYSE:CRM) opened at 70.91 on Friday. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48. The company’s 50 day moving average is $74.35 and its 200 day moving average is $77.70. The company has a market cap of $48.57 billion, a price-to-earnings ratio of 218.86 and a beta of 1.59.

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Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. Analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.

A number of equities analysts recently commented on CRM shares. Bank of America Corp. reiterated a “buy” rating and set a $70.52 price target (down previously from $100.00) on shares of Salesforce.com in a report on Wednesday. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating in a research report on Friday, September 23rd. Morgan Stanley cut their price objective on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. 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. Finally, Mizuho raised their price objective on shares of Salesforce.com from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $92.56.

Institutional investors have recently bought and sold shares of the company. Ngam Advisors L.P. raised its position in Salesforce.com by 37.2% in the first quarter. Ngam Advisors L.P. now owns 29,442 shares of the CRM provider’s stock worth $2,174,000 after buying an additional 7,986 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Salesforce.com during the first quarter worth $3,993,000. Bessemer Group Inc. raised its position in Salesforce.com by 65.3% in the first quarter. Bessemer Group Inc. now owns 5,997 shares of the CRM provider’s stock worth $442,000 after buying an additional 2,370 shares during the last quarter. A.R. Schmeidler & Co. Inc. raised its position in Salesforce.com by 125.2% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 99,181 shares of the CRM provider’s stock worth $7,323,000 after buying an additional 55,143 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its position in Salesforce.com by 488.5% in the first quarter. AMF Pensionsforsakring AB now owns 602,629 shares of the CRM provider’s stock worth $44,492,000 after buying an additional 500,229 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.

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