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

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Investors bought shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading on Wednesday. $239.08 million flowed into the stock on the tick-up and $162.61 million flowed out of the stock on the tick-down, for a money net flow of $76.47 million into the stock. Of all companies tracked, salesforce.com had the 17th highest net in-flow for the day. salesforce.com traded down ($0.42) for the day and closed at $163.51

A number of research analysts recently weighed in on CRM shares. Wedbush reiterated an “outperform” rating and issued a $166.00 price objective on shares of salesforce.com in a research note on Monday, January 7th. TheStreet upgraded shares of salesforce.com from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Goldman Sachs Group reiterated a “buy” rating and issued a $178.00 price objective on shares of salesforce.com in a research note on Monday, March 4th. Pivotal Research upgraded shares of salesforce.com from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $164.00 in a research note on Monday, January 7th. Finally, Stephens started coverage on shares of salesforce.com in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $183.00 price objective for the company. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $177.82.

The stock has a market cap of $124.86 billion, a P/E ratio of 112.77, a price-to-earnings-growth ratio of 5.40 and a beta of 1.40. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20.

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

In other news, insider Srinivas Tallapragada sold 362 shares of salesforce.com stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $149.15, for a total transaction of $53,992.30. Following the completion of the sale, the insider now directly owns 1,517 shares of the company’s stock, valued at approximately $226,260.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 15,000 shares of salesforce.com stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $126.27, for a total transaction of $1,894,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 398,841 shares of company stock valued at $60,124,899 over the last ninety days. 6.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Eagle Asset Management Inc. bought a new stake in salesforce.com in the third quarter worth $543,000. Keybank National Association OH lifted its stake in salesforce.com by 80.7% in the third quarter. Keybank National Association OH now owns 65,754 shares of the CRM provider’s stock worth $10,457,000 after purchasing an additional 29,360 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in salesforce.com by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 8,205,516 shares of the CRM provider’s stock worth $1,304,923,000 after purchasing an additional 75,769 shares during the last quarter. Fosun International Ltd bought a new stake in salesforce.com in the third quarter worth $786,000. Finally, San Francisco Sentry Investment Group CA lifted its stake in salesforce.com by 13.9% in the third quarter. San Francisco Sentry Investment Group CA now owns 4,468 shares of the CRM provider’s stock worth $710,000 after purchasing an additional 546 shares during the last quarter. 82.07% of the stock is owned by institutional investors.

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About salesforce.com (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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