Trading Report: Today, Salesforce.com Inc. (CRM) Director Sold $1,125,000.00 in Stock

Today, Salesforce.com Inc. (CRM) Director Sold $1,125,000.00 in Stock

Salesforce.com Inc. (NYSE:CRM) Director Maynard G. Webb, Jr. sold 15,000 shares of Salesforce.com stock in a transaction on Monday, October 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,125,000.00. Following the completion of the sale, the director now owns 32,832 shares of the company’s stock, valued at approximately $2,462,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Salesforce.com Inc. (NYSE:CRM) opened at 74.27 on Monday. The stock has a 50 day moving average price of $73.60 and a 200-day moving average price of $77.68. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 229.23 and a beta of 1.59. Salesforce.com Inc. has a 52 week low of $52.60 and a 52 week high of $84.48.

Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 2.19% and a net margin of 2.91%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. On average, equities research analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current year.

A number of analysts recently issued reports on the stock. Robert W. Baird restated an “outperform” rating and issued a $90.00 price target on shares of Salesforce.com in a research note on Wednesday, October 12th. Cowen and Company restated an “outperform” rating and issued a $100.00 price target on shares of Salesforce.com in a research note on Wednesday, October 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $95.00 target price on shares of Salesforce.com in a research note on Wednesday, October 12th. JMP Securities reiterated a “buy” rating and set a $92.00 target price on shares of Salesforce.com in a research note on Monday, October 10th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $95.00 target price on shares of Salesforce.com in a research note on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have assigned a buy rating to the company. Salesforce.com presently has an average rating of “Buy” and an average price target of $92.51.

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock valued at $339,000 after buying an additional 22 shares during the period. Hollencrest Securities LLC increased its stake in Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock valued at $256,000 after buying an additional 29 shares during the period. Cornerstone Advisors Inc. increased its stake in Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock valued at $282,000 after buying an additional 35 shares during the period. Integrated Investment Consultants LLC increased its stake in Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares during the period. Finally, Fulton Bank N.A. increased its stake in Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 87.03% of the company’s stock.

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