salesforce.com (CRM) Shares Gap Down After Insider Selling

salesforce.com, inc. (NYSE:CRM) shares gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $162.32, but opened at $158.07. salesforce.com shares last traded at $155.06, with a volume of 7637987 shares traded.

Specifically, CFO Mark J. Hawkins sold 846 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $160.36, for a total transaction of $135,664.56. Following the completion of the sale, the chief financial officer now owns 20,963 shares in the company, valued at $3,361,626.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 6,330 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $156.39, for a total value of $989,948.70. Following the sale, the insider now owns 33,882 shares of the company’s stock, valued at approximately $5,298,805.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 439,500 shares of company stock worth $70,392,703. 5.50% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on the company. Bank of America reiterated a “buy” rating and issued a $200.00 price target (up from $181.00) on shares of salesforce.com in a research note on Wednesday, February 27th. Mizuho assumed coverage on salesforce.com in a research note on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price target for the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $180.00 price target on shares of salesforce.com in a research note on Wednesday, April 17th. Wells Fargo & Co boosted their price target on salesforce.com from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Finally, Wedbush boosted their price target on salesforce.com from $174.00 to $192.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $177.82.



The firm has a market capitalization of $118.04 billion, a PE ratio of 106.94, a price-to-earnings-growth ratio of 5.65 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.14. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. During the same period in the prior year, the business earned $0.35 earnings per share. On average, equities research analysts expect that salesforce.com, inc. will post 1.18 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in CRM. Oregon Public Employees Retirement Fund increased its holdings in shares of salesforce.com by 29,364.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock worth $159,000 after buying an additional 21,642,889 shares in the last quarter. Norges Bank acquired a new position in shares of salesforce.com during the fourth quarter worth $938,778,000. Lunia Capital LP acquired a new position in shares of salesforce.com during the fourth quarter worth $5,811,000. BlackRock Inc. increased its holdings in shares of salesforce.com by 9.2% during the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock worth $7,022,474,000 after buying an additional 4,321,630 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of salesforce.com by 18.3% during the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after buying an additional 3,041,293 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

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salesforce.com Company Profile (NYSE:CRM)

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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