Insider Selling: Salesforce.com Inc (CRM) CFO Sells $45,824.80 in Stock

Salesforce.com Inc (NYSE:CRM) CFO Mark J. Hawkins sold 490 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total value of $45,824.80. Following the sale, the chief financial officer now owns 14,886 shares of the company’s stock, valued at approximately $1,392,138.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce.com Inc (NYSE:CRM) traded down 0.05% during midday trading on Friday, reaching $94.10. 5,310,995 shares of the company’s stock traded hands. The firm’s market cap is $67.00 billion. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $95.23. The firm’s 50-day moving average is $90.44 and its 200 day moving average is $86.60.

Salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.24. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. Salesforce.com’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. Equities research analysts expect that Salesforce.com Inc will post $1.31 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in CRM. Sigma Planning Corp boosted its stake in Salesforce.com by 2.8% in the first quarter. Sigma Planning Corp now owns 5,068 shares of the CRM provider’s stock worth $418,000 after buying an additional 137 shares during the period. Fisher Asset Management LLC boosted its stake in Salesforce.com by 2,292.5% in the first quarter. Fisher Asset Management LLC now owns 285,355 shares of the CRM provider’s stock worth $23,539,000 after buying an additional 273,428 shares during the period. Profund Advisors LLC raised its position in Salesforce.com by 4.1% in the first quarter. Profund Advisors LLC now owns 65,530 shares of the CRM provider’s stock worth $5,406,000 after buying an additional 2,611 shares in the last quarter. Riverbridge Partners LLC raised its position in Salesforce.com by 16.5% in the first quarter. Riverbridge Partners LLC now owns 394,314 shares of the CRM provider’s stock worth $32,527,000 after buying an additional 55,725 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in Salesforce.com by 4.3% in the first quarter. Glen Harbor Capital Management LLC now owns 46,200 shares of the CRM provider’s stock worth $3,811,000 after buying an additional 1,904 shares in the last quarter. Institutional investors own 86.29% of the company’s stock.

A number of equities research analysts have recently weighed in on CRM shares. J P Morgan Chase & Co reiterated a “buy” rating and issued a $95.00 price target on shares of Salesforce.com in a research report on Wednesday. Drexel Hamilton reiterated a “buy” rating and issued a $111.00 price target on shares of Salesforce.com in a research report on Wednesday. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $100.00 price target (up from $95.00) on shares of Salesforce.com in a research report on Friday, May 19th. Zacks Investment Research downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, SunTrust Banks, Inc. started coverage on shares of Salesforce.com in a research report on Monday, June 26th. They issued a “buy” rating and a $110.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $101.72.

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.