Investors Buy Shares of salesforce.com (CRM) on Weakness After Insider Selling

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Investors bought shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading hours on Wednesday after an insider sold shares in the company. $218.77 million flowed into the stock on the tick-up and $152.84 million flowed out of the stock on the tick-down, for a money net flow of $65.93 million into the stock. Of all companies tracked, salesforce.com had the 13th highest net in-flow for the day. salesforce.com traded down ($3.35) for the day and closed at $155.34Specifically, insider Parker Harris sold 6,331 shares of the stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $145.80, for a total value of $923,059.80. Following the transaction, the insider now directly owns 29,974 shares in the company, valued at $4,370,209.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $149.47, for a total transaction of $747,350.00. Following the completion of the transaction, the chief executive officer now owns 27,705 shares in the company, valued at $4,141,066.35. The disclosure for this sale can be found here. Insiders sold 445,691 shares of company stock worth $70,458,306 over the last quarter. 6.00% of the stock is currently owned by insiders.

Several equities analysts have commented on the stock. Bank of America reiterated a “buy” rating and issued a $200.00 price target (up from $181.00) on shares of salesforce.com in a research note on Wednesday, February 27th. Mizuho assumed coverage on shares of salesforce.com in a research note on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price target on the stock. JPMorgan Chase & Co. set a $180.00 price target on shares of salesforce.com and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank reiterated a “buy” rating on shares of salesforce.com in a research note on Tuesday, March 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $185.00 price target (up from $175.00) on shares of salesforce.com in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $177.82.

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $119.73 billion, a PE ratio of 107.58, a P/E/G ratio of 5.34 and a beta of 1.39.

salesforce.com (NYSE:CRM) last announced its earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.56 billion. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. During the same period last year, the firm posted $0.35 earnings per share. Analysts forecast that salesforce.com, inc. will post 1.31 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of CRM. Oregon Public Employees Retirement Fund grew its position in salesforce.com by 29,364.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock valued at $159,000 after buying an additional 21,642,889 shares during the last quarter. Norges Bank purchased a new position in salesforce.com in the 4th quarter valued at $938,778,000. Lunia Capital LP purchased a new position in salesforce.com in the 4th quarter valued at $5,811,000. BlackRock Inc. grew its position in salesforce.com by 9.2% in the 4th quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock valued at $7,022,474,000 after buying an additional 4,321,630 shares during the last quarter. Finally, Jennison Associates LLC grew its position in salesforce.com by 18.3% in the 4th quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock valued at $2,694,432,000 after buying an additional 3,041,293 shares during the last quarter. Hedge funds and other institutional investors own 83.02% 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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