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

Traders bought shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading hours on Monday after an insider sold shares in the company. $210.92 million flowed into the stock on the tick-up and $123.88 million flowed out of the stock on the tick-down, for a money net flow of $87.04 million into the stock. Of all companies tracked, salesforce.com had the 21st highest net in-flow for the day. salesforce.com traded down ($3.13) for the day and closed at $107.65Specifically, CAO Joe Allanson sold 622 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $106.77, for a total transaction of $66,410.94. Following the sale, the chief accounting officer now owns 29,062 shares in the company, valued at approximately $3,102,949.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Conway sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.90, for a total transaction of $26,475.00. Following the sale, the director now owns 9,408 shares in the company, valued at approximately $996,307.20. The disclosure for this sale can be found here. Insiders sold a total of 483,600 shares of company stock worth $52,232,999 in the last quarter. Company insiders own 6.20% of the company’s stock.

CRM has been the subject of a number of research analyst reports. Vetr lowered shares of salesforce.com from a “hold” rating to a “strong sell” rating and set a $80.76 price objective for the company. in a report on Wednesday, October 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $109.00 price objective on shares of salesforce.com in a report on Friday, October 20th. Jefferies Group reaffirmed a “hold” rating and set a $84.00 price objective on shares of salesforce.com in a report on Sunday, October 29th. Guggenheim initiated coverage on shares of salesforce.com in a report on Monday, October 30th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $115.00 price objective on shares of salesforce.com in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $112.91.

The stock has a market capitalization of $77,760.00, a P/E ratio of 10,765.00, a price-to-earnings-growth ratio of 6.14 and a beta of 1.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. salesforce.com had a return on equity of 2.81% and a net margin of 0.09%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. research analysts forecast that salesforce.com, inc. will post 0.43 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. grew its stake in shares of salesforce.com by 196.4% during the fourth quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock worth $118,000 after acquiring an additional 762 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in salesforce.com in the fourth quarter valued at approximately $123,000. Cerebellum GP LLC purchased a new stake in salesforce.com in the fourth quarter valued at approximately $125,000. People s United Financial Inc. boosted its position in salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after buying an additional 550 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in salesforce.com by 204.3% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock valued at $131,000 after buying an additional 940 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

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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.

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