Keith Block Sells 2,160 Shares of salesforce.com, inc. (CRM) Stock

salesforce.com, inc. (NYSE:CRM) CEO Keith Block sold 2,160 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $145.37, for a total value of $313,999.20. Following the transaction, the chief executive officer now owns 23,836 shares of the company’s stock, valued at $3,465,039.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Keith Block also recently made the following trade(s):

  • On Thursday, October 11th, Keith Block sold 2,160 shares of salesforce.com stock. The shares were sold at an average price of $137.60, for a total value of $297,216.00.
  • On Tuesday, October 9th, Keith Block sold 2,160 shares of salesforce.com stock. The shares were sold at an average price of $148.05, for a total value of $319,788.00.
  • On Thursday, October 4th, Keith Block sold 2,160 shares of salesforce.com stock. The shares were sold at an average price of $158.79, for a total value of $342,986.40.
  • On Tuesday, October 2nd, Keith Block sold 2,160 shares of salesforce.com stock. The shares were sold at an average price of $159.14, for a total value of $343,742.40.
  • On Thursday, August 23rd, Keith Block sold 1,039 shares of salesforce.com stock. The shares were sold at an average price of $147.23, for a total value of $152,971.97.
  • On Thursday, August 9th, Keith Block sold 9,604 shares of salesforce.com stock. The shares were sold at an average price of $145.49, for a total value of $1,397,285.96.
  • On Tuesday, August 7th, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $143.61, for a total value of $1,436,100.00.
  • On Thursday, August 2nd, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $137.95, for a total value of $1,379,500.00.
  • On Thursday, July 26th, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $147.13, for a total value of $1,471,300.00.
  • On Tuesday, July 24th, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $148.44, for a total value of $1,484,400.00.

Shares of NYSE CRM traded down $0.43 during midday trading on Wednesday, hitting $147.01. 3,342,900 shares of the company’s stock were exchanged, compared to its average volume of 5,416,821. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. salesforce.com, inc. has a twelve month low of $96.05 and a twelve month high of $161.19. The firm has a market capitalization of $120.34 billion, a PE ratio of 327.96, a price-to-earnings-growth ratio of 5.23 and a beta of 1.27.

salesforce.com (NYSE:CRM) last issued its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the company earned $0.33 EPS. The business’s quarterly revenue was up 27.3% on a year-over-year basis. On average, sell-side analysts forecast that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.

CRM has been the subject of a number of research analyst reports. Royal Bank of Canada raised their target price on salesforce.com to $182.00 in a report on Thursday, September 27th. They noted that the move was a valuation call. Credit Suisse Group set a $170.00 target price on salesforce.com and gave the company a “buy” rating in a report on Wednesday, August 15th. UBS Group lifted their price objective on salesforce.com from $153.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Stifel Nicolaus lifted their price objective on salesforce.com from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, Societe Generale set a $170.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, August 14th. Six equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $164.85.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in salesforce.com by 3.5% during the second quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock worth $12,224,319,000 after buying an additional 3,066,099 shares during the period. BlackRock Inc. increased its position in salesforce.com by 5.2% during the second quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock worth $6,091,032,000 after buying an additional 2,212,408 shares during the period. Morgan Stanley increased its position in salesforce.com by 1.5% during the second quarter. Morgan Stanley now owns 14,496,002 shares of the CRM provider’s stock worth $1,977,256,000 after buying an additional 214,578 shares during the period. Northern Trust Corp increased its position in salesforce.com by 1.0% during the second quarter. Northern Trust Corp now owns 9,923,734 shares of the CRM provider’s stock worth $1,353,597,000 after buying an additional 98,077 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in salesforce.com by 14.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,533,328 shares of the CRM provider’s stock worth $1,027,545,000 after buying an additional 961,104 shares during the period. 82.75% of the stock is currently owned by institutional investors and hedge funds.

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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