Insider Selling: salesforce.com, inc. (NYSE:CRM) CEO Sells 1,038 Shares of Stock

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salesforce.com, inc. (NYSE:CRM) CEO Keith Block sold 1,038 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $155.57, for a total value of $161,481.66. Following the transaction, the chief executive officer now directly owns 31,434 shares in the company, valued at $4,890,187.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Monday, June 24th, Keith Block sold 870 shares of salesforce.com stock. The shares were sold at an average price of $153.88, for a total value of $133,875.60.
  • On Wednesday, June 19th, Keith Block sold 2,500 shares of salesforce.com stock. The shares were sold at an average price of $151.71, for a total value of $379,275.00.
  • On Wednesday, June 12th, Keith Block sold 2,500 shares of salesforce.com stock. The shares were sold at an average price of $151.45, for a total value of $378,625.00.
  • On Wednesday, June 5th, Keith Block sold 2,500 shares of salesforce.com stock. The shares were sold at an average price of $157.98, for a total value of $394,950.00.

NYSE:CRM traded up $3.33 on Friday, reaching $151.57. 25,282,773 shares of the company’s stock traded hands, compared to its average volume of 6,091,026. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $151.46 and a 200-day simple moving average of $156.21. The firm has a market cap of $112.94 billion, a PE ratio of 104.53, a P/E/G ratio of 5.31 and a beta of 1.27. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.57. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. On average, equities analysts anticipate that salesforce.com, inc. will post 1.26 earnings per share for the current year.

Several equities analysts have recently weighed in on CRM shares. Canaccord Genuity reissued a “buy” rating and set a $185.00 price target (up from $175.00) on shares of salesforce.com in a report on Friday. They noted that the move was a valuation call. Barclays raised their target price on salesforce.com from $182.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday. OTR Global raised salesforce.com to a “positive” rating in a report on Thursday, August 15th. BMO Capital Markets raised their target price on salesforce.com from $185.00 to $188.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Nomura raised their target price on salesforce.com from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $182.03.

A number of large investors have recently bought and sold shares of CRM. Chemung Canal Trust Co. grew its position in shares of salesforce.com by 1.2% during the second quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock valued at $6,688,000 after purchasing an additional 505 shares in the last quarter. Hills Bank & Trust Co. grew its position in shares of salesforce.com by 5.3% during the second quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock valued at $1,438,000 after purchasing an additional 473 shares in the last quarter. Chicago Capital LLC grew its position in shares of salesforce.com by 3.1% during the second quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock valued at $31,825,000 after purchasing an additional 6,237 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of salesforce.com by 1.0% during the second quarter. Retirement Systems of Alabama now owns 612,105 shares of the CRM provider’s stock valued at $92,875,000 after purchasing an additional 5,888 shares in the last quarter. Finally, MML Investors Services LLC grew its position in shares of salesforce.com by 46.5% during the first quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock valued at $6,979,000 after purchasing an additional 13,991 shares in the last quarter. 82.03% of the stock is currently owned by institutional investors and hedge funds.

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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