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

Investors bought shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading hours on Tuesday following insider selling activity. $223.09 million flowed into the stock on the tick-up and $119.96 million flowed out of the stock on the tick-down, for a money net flow of $103.13 million into the stock. Of all stocks tracked, salesforce.com had the highest net in-flow for the day. salesforce.com traded down ($0.86) for the day and closed at $107.69Specifically, insider Parker Harris sold 1,877 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $107.70, for a total transaction of $202,152.90. Following the completion of the transaction, the insider now directly owns 15,502 shares in the company, valued at approximately $1,669,565.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Keith Block sold 10,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $106.79, for a total transaction of $1,067,900.00. Following the transaction, the insider now owns 24,154 shares of the company’s stock, valued at $2,579,405.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 474,180 shares of company stock valued at $51,296,513. Company insiders own 6.20% of the company’s stock.

Several brokerages recently issued reports on CRM. Vetr upgraded shares of salesforce.com from a “hold” rating to a “buy” rating and set a $113.54 target price for the company in a research note on Monday. UBS Group set a $135.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Tuesday, February 6th. Cleveland Research began coverage on shares of salesforce.com in a research note on Wednesday, January 31st. They issued a “buy” rating for the company. Royal Bank of Canada set a $120.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Monday, January 22nd. Finally, Barclays reiterated an “overweight” rating and issued a $127.00 target price (up from $117.00) on shares of salesforce.com in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have assigned a buy rating to the company. salesforce.com currently has an average rating of “Buy” and a consensus price target of $113.62.

The company has a market cap of $77,780.00, a price-to-earnings ratio of 10,769.00, a P/E/G ratio of 5.93 and a beta of 1.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Cypress Capital Group increased its holdings in shares of salesforce.com by 80.1% during the third quarter. Cypress Capital Group now owns 29,439 shares of the CRM provider’s stock worth $2,750,000 after purchasing an additional 13,090 shares during the period. Principal Financial Group Inc. increased its holdings in shares of salesforce.com by 23.8% during the third quarter. Principal Financial Group Inc. now owns 1,228,004 shares of the CRM provider’s stock worth $114,720,000 after purchasing an additional 235,869 shares during the period. California Public Employees Retirement System increased its holdings in shares of salesforce.com by 16.3% during the third quarter. California Public Employees Retirement System now owns 1,489,884 shares of the CRM provider’s stock worth $139,185,000 after purchasing an additional 209,184 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in shares of salesforce.com by 405.5% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 134,916 shares of the CRM provider’s stock worth $12,532,000 after purchasing an additional 108,229 shares during the period. Finally, Fox Run Management L.L.C. increased its holdings in shares of salesforce.com by 86.7% during the fourth quarter. Fox Run Management L.L.C. now owns 5,973 shares of the CRM provider’s stock worth $611,000 after purchasing an additional 2,773 shares during the period. 85.33% of the stock is currently owned by institutional investors.

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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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