Trading Report: The Insider Selling: Salesforce.com Inc. (CRM) EVP Sold $146,090.52 in Stock

The Insider Selling: Salesforce.com Inc. (CRM) EVP Sold $146,090.52 in Stock

Salesforce.com Inc. (NYSE:CRM) EVP Burke F. Norton sold 1,971 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $74.12, for a total value of $146,090.52. Following the transaction, the executive vice president now owns 77,627 shares of the company’s stock, valued at approximately $5,753,713.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Salesforce.com Inc. (NYSE:CRM) opened at 73.73 on Monday. Salesforce.com Inc. has a 52 week low of $52.60 and a 52 week high of $84.48. The stock has a 50 day moving average price of $74.26 and a 200-day moving average price of $77.55. The stock has a market cap of $50.91 billion, a P/E ratio of 249.93 and a beta of 1.55.

Salesforce.com (NYSE:CRM) last released its earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. The firm earned $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. Salesforce.com’s revenue was up 25.3% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. Equities analysts predict that Salesforce.com Inc. will post $0.98 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock worth $3,130,829,000 after buying an additional 1,181,756 shares during the period. Jennison Associates LLC boosted its stake in Salesforce.com by 3.2% in the third quarter. Jennison Associates LLC now owns 20,758,784 shares of the CRM provider’s stock worth $1,480,724,000 after buying an additional 649,445 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Salesforce.com by 3.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 16,980,055 shares of the CRM provider’s stock worth $1,211,187,000 after buying an additional 585,931 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Salesforce.com by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 8,648,009 shares of the CRM provider’s stock worth $616,865,000 after buying an additional 420,944 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in Salesforce.com by 0.7% in the second quarter. Baillie Gifford & Co. now owns 6,981,936 shares of the CRM provider’s stock worth $554,435,000 after buying an additional 47,955 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

A number of research firms have issued reports on CRM. Mizuho reiterated an “outperform” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Monday, August 15th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Monday, August 15th. MKM Partners reiterated a “buy” rating and issued a $96.00 price objective on shares of Salesforce.com in a report on Friday, August 5th. Stephens began coverage on Salesforce.com in a report on Tuesday, August 2nd. They issued an “overweight” rating for the company. Finally, Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price objective for the company in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $92.05.

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