Insider Selling: salesforce.com, inc. (CRM) Director Sells 30,000 Shares of Stock

salesforce.com, inc. (NYSE:CRM) Director Sanford Robertson sold 30,000 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $157.96, for a total transaction of $4,738,800.00. Following the completion of the sale, the director now directly owns 145,700 shares of the company’s stock, valued at $23,014,772. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NYSE:CRM opened at $154.92 on Tuesday. The stock has a market cap of $117.57 billion, a PE ratio of 348.48, a price-to-earnings-growth ratio of 5.11 and a beta of 1.27. salesforce.com, inc. has a 52 week low of $92.11 and a 52 week high of $158.79. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. equities research analysts expect that salesforce.com, inc. will post 1.22 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in salesforce.com by 3.5% during the 2nd quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after purchasing an additional 3,066,099 shares during the last quarter. BlackRock Inc. lifted its holdings in salesforce.com by 5.2% during the 2nd quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock valued at $6,091,032,000 after purchasing an additional 2,212,408 shares during the last quarter. Morgan Stanley lifted its holdings in salesforce.com by 1.5% during the 2nd quarter. Morgan Stanley now owns 14,496,002 shares of the CRM provider’s stock valued at $1,977,256,000 after purchasing an additional 214,578 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in salesforce.com by 14.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,533,328 shares of the CRM provider’s stock valued at $1,027,545,000 after purchasing an additional 961,104 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in salesforce.com by 4.9% during the 1st quarter. Baillie Gifford & Co. now owns 6,046,347 shares of the CRM provider’s stock valued at $703,190,000 after purchasing an additional 280,110 shares during the last quarter. 82.74% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on CRM shares. Bank of America increased their price target on shares of salesforce.com from $161.00 to $181.00 and gave the company a “buy” rating in a report on Tuesday, August 21st. Morgan Stanley increased their price target on shares of salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a report on Tuesday, August 14th. BMO Capital Markets increased their price target on shares of salesforce.com from $152.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Zacks Investment Research downgraded shares of salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $140.00 price target on shares of salesforce.com in a report on Tuesday, May 29th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the stock. salesforce.com presently has a consensus rating of “Buy” and an average target price of $159.97.

About salesforce.com

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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