Trading Report: The Salesforce.com Inc. (CRM) Chairman Sold $925,625.00 in Stock

The Salesforce.com Inc. (CRM) Chairman Sold $925,625.00 in Stock

Salesforce.com Inc. (NYSE:CRM) Chairman Marc Benioff sold 12,500 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $74.05, for a total value of $925,625.00. Following the sale, the chairman now owns 34,609,700 shares of the company’s stock, valued at approximately $2,562,848,285. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Marc Benioff also recently made the following trade(s): On Tuesday, November 22nd, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $75.74, for a total value of $946,750.00. On Monday, November 21st, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $76.49, for a total value of $956,125.00. On Friday, November 18th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $78.07, for a total value of $975,875.00. On Thursday, November 17th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $74.66, for a total value of $933,250.00. On Wednesday, November 16th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $73.68, for a total value of $921,000.00. On Tuesday, November 15th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The stock was sold at an average price of $73.68, for a total value of $1,842,000.00. On Friday, November 11th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The stock was sold at an average price of $74.28, for a total value of $1,857,000.00. On Wednesday, November 9th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $75.61, for a total value of $945,125.00. On Tuesday, November 8th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $76.56, for a total value of $957,000.00. On Monday, November 7th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $76.38, for a total value of $954,750.00.

Salesforce.com Inc. (NYSE:CRM) opened at 73.73 on Monday. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The firm has a market capitalization of $50.91 billion, a price-to-earnings ratio of 249.93 and a beta of 1.55. The firm’s 50-day moving average is $74.26 and its 200 day moving average is $77.55.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. Signaturefd LLC raised its position in shares of Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock valued at $107,000 after buying an additional 693 shares in the last quarter. M&R Capital Management Inc. acquired a new position in Salesforce.com during the second quarter worth about $119,000. NEXT Financial Group Inc increased its position in Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock worth $125,000 after buying an additional 39 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares during the last quarter. Finally, Mycio Wealth Partners LLC increased its position in Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares during the last quarter. 85.24% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on CRM. FBN Securities set a $90.00 target price on Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 price target on Salesforce.com and gave the stock a “buy” rating in a research report on Sunday, September 4th. DA Davidson set a $86.00 price target on Salesforce.com and gave the stock a “hold” rating in a research report on Sunday, September 11th. Rosenblatt Securities set a $90.00 price target on Salesforce.com and gave the stock a “buy” rating in a research report on Saturday, November 19th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Salesforce.com in a research report on Sunday, November 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and forty-two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $92.05.

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