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

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Investors sold shares of salesforce.com, inc. (NYSE:CRM) on strength during trading hours on Wednesday after an insider sold shares in the company. $174.91 million flowed into the stock on the tick-up and $194.05 million flowed out of the stock on the tick-down, for a money net flow of $19.14 million out of the stock. Of all companies tracked, salesforce.com had the 33rd highest net out-flow for the day. salesforce.com traded up $2.80 for the day and closed at $145.25Specifically, Vice Chairman Keith Block sold 10,000 shares of salesforce.com stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $142.11, for a total value of $1,421,100.00. Following the transaction, the insider now directly owns 30,647 shares of the company’s stock, valued at $4,355,245.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 2,204 shares of salesforce.com stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $142.30, for a total value of $313,629.20. Following the completion of the transaction, the insider now directly owns 20,192 shares in the company, valued at $2,873,321.60. The disclosure for this sale can be found here. In the last quarter, insiders acquired 18,000 shares of company stock worth $2,363,520 and sold 619,368 shares worth $80,405,126. Insiders own 6.00% of the company’s stock.

Several brokerages have issued reports on CRM. Canaccord Genuity restated a “buy” rating on shares of salesforce.com in a report on Thursday, June 28th. JMP Securities boosted their price objective on salesforce.com from $140.00 to $163.00 and gave the company an “outperform” rating in a report on Tuesday. Oppenheimer boosted their price objective on salesforce.com from $152.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday. Robert W. Baird boosted their price objective on salesforce.com from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets boosted their price objective on salesforce.com from $147.00 to $152.00 and gave the company a “market perform” rating in a report on Thursday, June 28th. Six research analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $134.71.

The firm has a market cap of $104.04 billion, a price-to-earnings ratio of 319.20, a PEG ratio of 5.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.46 by $0.28. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.94 billion. salesforce.com had a return on equity of 7.25% and a net margin of 4.33%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. analysts predict that salesforce.com, inc. will post 1 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. Bremer Trust National Association lifted its holdings in salesforce.com by 219.7% in the 2nd quarter. Bremer Trust National Association now owns 13,896 shares of the CRM provider’s stock worth $1,895,000 after buying an additional 9,549 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in salesforce.com by 82.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 20,858 shares of the CRM provider’s stock worth $2,845,000 after buying an additional 9,440 shares during the period. Gofen & Glossberg LLC IL lifted its holdings in salesforce.com by 317.5% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 44,558 shares of the CRM provider’s stock worth $6,078,000 after buying an additional 33,885 shares during the period. Atlas Brown Inc. lifted its holdings in salesforce.com by 11.6% in the 2nd quarter. Atlas Brown Inc. now owns 3,328 shares of the CRM provider’s stock worth $474,000 after buying an additional 345 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its holdings in salesforce.com by 3.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 122,219 shares of the CRM provider’s stock worth $16,671,000 after buying an additional 3,942 shares during the period. Institutional investors and hedge funds own 84.20% of the company’s stock.

salesforce.com Company Profile

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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