The Insider Selling: Salesforce.com Inc. (CRM) Insider Sold $356,450.00 in Stock

The Insider Selling: Salesforce.com Inc. (CRM) Insider Sold $356,450.00 in Stock

Salesforce.com Inc. (NYSE:CRM) insider Parker Harris sold 5,000 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $71.29, for a total value of $356,450.00. Following the completion of the transaction, the insider now owns 39,467 shares of the company’s stock, valued at $2,813,602.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Parker Harris also recently made the following trade(s): On Tuesday, September 27th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $70.13, for a total value of $350,650.00. On Tuesday, September 20th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $73.08, for a total value of $365,400.00. On Tuesday, September 13th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $73.21, for a total value of $366,050.00. On Tuesday, September 6th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $75.26, for a total value of $376,300.00. On Tuesday, August 30th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $79.68, for a total value of $398,400.00. On Tuesday, August 23rd, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $78.01, for a total value of $390,050.00. On Tuesday, August 16th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $78.33, for a total value of $391,650.00. On Tuesday, August 9th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $81.31, for a total value of $406,550.00. On Tuesday, August 2nd, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $80.19, for a total value of $400,950.00. On Tuesday, July 26th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $81.73, for a total value of $408,650.00.

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

Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business earned $2.04 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, equities analysts anticipate that Salesforce.com Inc. will post $0.95 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in Salesforce.com by 6.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,393 shares of the CRM provider’s stock valued at $546,000 after buying an additional 475 shares during the period. Ithaka Group LLC increased its position in Salesforce.com by 1.4% in the first quarter. Ithaka Group LLC now owns 521,540 shares of the CRM provider’s stock valued at $38,505,000 after buying an additional 7,275 shares during the period. AMF Pensionsforsakring AB increased 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 valued at $44,492,000 after buying an additional 500,229 shares during the period. A.R. Schmeidler & Co. Inc. increased 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 valued at $7,323,000 after buying an additional 55,143 shares during the period. Finally, Blue Rock Advisors LLC bought a new position in Salesforce.com during the first quarter valued at $229,000. Institutional investors and hedge funds own 87.23% of the company’s stock.

Several equities research analysts recently commented on CRM shares. Bank of America Corp. reaffirmed a “buy” rating and set a $70.52 target price (down previously from $100.00) on shares of Salesforce.com in a research note on Wednesday, October 5th. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating in a research note on Friday, September 23rd. Morgan Stanley decreased their target price on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, August 15th. Finally, Mizuho raised their target price on Salesforce.com from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $92.56.

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