Parker Harris Sells 5,000 Shares of salesforce.com, inc. (NYSE:CRM) Stock

salesforce.com, inc. (NYSE:CRM) insider Parker Harris sold 5,000 shares of salesforce.com stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $190.94, for a total transaction of $954,700.00. Following the sale, the insider now owns 66,132 shares of the company’s stock, valued at approximately $12,627,244.08. The sale was disclosed in a document filed with the SEC, which is available through this link.

Parker Harris also recently made the following trade(s):

  • On Tuesday, July 21st, Parker Harris sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $191.68, for a total transaction of $958,400.00.
  • On Tuesday, July 14th, Parker Harris sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $187.15, for a total transaction of $935,750.00.
  • On Tuesday, June 30th, Parker Harris sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $185.97, for a total transaction of $929,850.00.
  • On Tuesday, June 16th, Parker Harris sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $180.01, for a total transaction of $900,050.00.
  • On Wednesday, June 3rd, Parker Harris sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $175.04, for a total transaction of $875,200.00.
  • On Tuesday, May 19th, Parker Harris sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $175.01, for a total transaction of $875,050.00.
  • On Tuesday, May 12th, Parker Harris sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $180.04, for a total transaction of $900,200.00.

Shares of NYSE CRM opened at $194.85 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $202.82. The company has a 50 day simple moving average of $188.62 and a two-hundred day simple moving average of $173.36. The stock has a market cap of $175.56 billion, a price-to-earnings ratio of -1,082.50, a PEG ratio of 9.56 and a beta of 1.08.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the business posted $0.93 EPS. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. Analysts forecast that salesforce.com, inc. will post 1.13 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. AXA lifted its stake in shares of salesforce.com by 13.2% in the 1st quarter. AXA now owns 642,117 shares of the CRM provider’s stock valued at $92,452,000 after purchasing an additional 74,972 shares during the period. Balentine LLC acquired a new position in shares of salesforce.com in the 1st quarter valued at $147,000. Wisconsin Capital Management LLC lifted its stake in shares of salesforce.com by 12.5% in the 1st quarter. Wisconsin Capital Management LLC now owns 11,250 shares of the CRM provider’s stock valued at $1,620,000 after purchasing an additional 1,250 shares during the period. Capital Asset Advisory Services LLC lifted its stake in shares of salesforce.com by 18.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 2,861 shares of the CRM provider’s stock valued at $485,000 after purchasing an additional 452 shares during the period. Finally, Private Asset Management Inc. lifted its stake in shares of salesforce.com by 7.4% in the 2nd quarter. Private Asset Management Inc. now owns 21,005 shares of the CRM provider’s stock valued at $3,935,000 after purchasing an additional 1,443 shares during the period. Hedge funds and other institutional investors own 81.26% of the company’s stock.

A number of research firms have commented on CRM. Goldman Sachs Group raised their target price on shares of salesforce.com from $204.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. JMP Securities raised their target price on shares of salesforce.com from $172.00 to $191.00 and gave the company a “market outperform” rating in a research report on Monday, May 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of salesforce.com in a research report on Friday, May 29th. JPMorgan Chase & Co. set a $200.00 price objective on shares of salesforce.com and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Co lifted their price objective on shares of salesforce.com from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $200.21.

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.

Further Reading: What does an equal weight rating mean?

Insider Buying and Selling by Quarter for salesforce.com (NYSE:CRM)

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