Salesforce.com Inc (NYSE:CRM) EVP Cynthia G. Robbins sold 681 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $89.33, for a total value of $60,833.73. Following the completion of the sale, the executive vice president now owns 1,765 shares in the company, valued at approximately $157,667.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Salesforce.com Inc (CRM) traded up 0.51% on Thursday, reaching $90.35. 2,351,432 shares of the company were exchanged. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $92.13. The firm has a 50-day moving average of $88.60 and a 200 day moving average of $85.06. The firm has a market capitalization of $64.27 billion, a P/E ratio of 475.53 and a beta of 1.29.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. Salesforce.com had a net margin of 1.49% and a return on equity of 1.80%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities analysts predict that Salesforce.com Inc will post $1.30 earnings per share for the current year.
A number of equities research analysts recently issued reports on CRM shares. Credit Suisse Group started coverage on Salesforce.com in a research report on Tuesday. They set an “outperform” rating and a $110.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 price target (up previously from $100.00) on shares of Salesforce.com in a research report on Friday, May 19th. Zacks Investment Research downgraded Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating and set a $80.00 price target on shares of Salesforce.com in a research report on Monday, May 22nd. Finally, Benchmark Co. increased their price target on Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and forty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $97.41.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in shares of Salesforce.com during the fourth quarter worth about $16,734,000. Perigon Wealth Management LLC increased its stake in Salesforce.com by 49.2% in the fourth quarter. Perigon Wealth Management LLC now owns 46,770 shares of the CRM provider’s stock valued at $3,845,000 after buying an additional 15,413 shares in the last quarter. Teachers Advisors LLC increased its stake in Salesforce.com by 31.4% in the fourth quarter. Teachers Advisors LLC now owns 2,653,210 shares of the CRM provider’s stock valued at $181,639,000 after buying an additional 633,760 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Salesforce.com during the fourth quarter valued at $3,171,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Salesforce.com during the fourth quarter valued at $1,415,000. 85.80% of the stock is currently owned by hedge funds and other institutional investors.
About Salesforce.com
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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