Investors Sell Shares of salesforce.com (CRM) on Strength After Insider Selling

Investors sold shares of salesforce.com, inc. (NYSE:CRM) on strength during trading hours on Monday after an insider sold shares in the company. $176.05 million flowed into the stock on the tick-up and $244.14 million flowed out of the stock on the tick-down, for a money net flow of $68.09 million out of the stock. Of all equities tracked, salesforce.com had the 0th highest net out-flow for the day. salesforce.com traded up $4.38 for the day and closed at $126.41Specifically, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $153.08, for a total value of $1,530,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Wojcicki purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was bought at an average cost of $157.57 per share, for a total transaction of $945,420.00. Following the completion of the acquisition, the director now directly owns 90,320 shares of the company’s stock, valued at $14,231,722.40. The disclosure for this purchase can be found here. Insiders sold 482,497 shares of company stock worth $71,415,484 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Several research firms recently issued reports on CRM. Wedbush reaffirmed an “outperform” rating and issued a $180.00 price target (up from $160.00) on shares of salesforce.com in a report on Monday. Piper Jaffray Companies cut their price target on shares of salesforce.com from $190.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, November 21st. Zacks Investment Research reaffirmed a “hold” rating on shares of salesforce.com in a report on Monday, November 12th. TheStreet cut shares of salesforce.com from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Finally, Nomura assumed coverage on shares of salesforce.com in a research note on Monday, October 29th. They set a “buy” rating and a $181.00 target price for the company. Six research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $167.11.

The stock has a market capitalization of $92.34 billion, a P/E ratio of 280.91, a PEG ratio of 4.01 and a beta of 1.38. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.47 by $0.24. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Sell-side analysts forecast that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Northeast Investment Management bought a new position in shares of salesforce.com during the third quarter worth about $456,000. Polaris Greystone Financial Group LLC bought a new position in shares of salesforce.com during the third quarter worth about $220,000. Putnam FL Investment Management Co. grew its position in shares of salesforce.com by 51.6% during the third quarter. Putnam FL Investment Management Co. now owns 21,295 shares of the CRM provider’s stock worth $3,387,000 after acquiring an additional 7,251 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of salesforce.com by 10.3% during the third quarter. Victory Capital Management Inc. now owns 210,327 shares of the CRM provider’s stock worth $33,449,000 after acquiring an additional 19,562 shares during the last quarter. Finally, One Capital Management LLC bought a new position in salesforce.com in the 3rd quarter valued at about $212,000. Institutional investors and hedge funds own 83.59% of the company’s stock.

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salesforce.com Company Profile (NYSE:CRM)

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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