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

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salesforce.com, inc. (NYSE:CRM) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $152.10, but opened at $152.79. salesforce.com shares last traded at $149.45, with a volume of 9069603 shares.

Specifically, insider Parker Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $147.30, for a total value of $91,326.00. Following the completion of the transaction, the insider now owns 29,438 shares in the company, valued at approximately $4,336,217.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $157.75, for a total value of $1,577,500.00. The disclosure for this sale can be found here. Insiders sold a total of 418,666 shares of company stock valued at $66,561,480 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

A number of research firms have weighed in on CRM. Nomura set a $184.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, March 5th. Societe Generale set a $186.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, March 5th. SunTrust Banks lifted their price objective on salesforce.com to $183.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Credit Suisse Group reiterated a “buy” rating and set a $175.00 price objective on shares of salesforce.com in a research note on Tuesday, March 5th. Finally, Deutsche Bank reiterated a “buy” rating on shares of salesforce.com in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $180.03.

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $116.52 billion, a price-to-earnings ratio of 104.33, a PEG ratio of 5.13 and a beta of 1.38.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $0.74 EPS. salesforce.com’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, analysts forecast that salesforce.com, inc. will post 1.45 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its holdings in salesforce.com by 17.5% in the 4th quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock worth $10,006,000 after buying an additional 10,864 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in salesforce.com by 5.7% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock worth $12,808,000 after buying an additional 5,063 shares during the last quarter. Heritage Investors Management Corp boosted its holdings in salesforce.com by 10.0% in the 1st quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock worth $5,452,000 after buying an additional 3,143 shares during the last quarter. Putnam FL Investment Management Co. boosted its holdings in salesforce.com by 0.5% in the 4th quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock worth $2,930,000 after buying an additional 97 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of salesforce.com by 65.9% during the 4th quarter. MML Investors Services LLC now owns 30,074 shares of the CRM provider’s stock worth $4,119,000 after purchasing an additional 11,941 shares during the last quarter. Institutional investors own 82.14% of the company’s stock.

TRADEMARK VIOLATION WARNING: “salesforce.com (NYSE:CRM) Shares Gap Down After Insider Selling” was originally published by Week Herald and is owned by of Week Herald. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://weekherald.com/2019/06/13/salesforce-com-nysecrm-shares-gap-down-after-insider-selling.html.

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.

Featured Story: How does the Beige Book influence monetary policy?

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

Share on StockTwits

salesforce.com, inc. (NYSE:CRM) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $152.10, but opened at $152.79. salesforce.com shares last traded at $149.45, with a volume of 9069603 shares.

Specifically, insider Parker Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $147.30, for a total value of $91,326.00. Following the completion of the transaction, the insider now owns 29,438 shares in the company, valued at approximately $4,336,217.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $157.75, for a total value of $1,577,500.00. The disclosure for this sale can be found here. Insiders sold a total of 418,666 shares of company stock valued at $66,561,480 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

A number of research firms have weighed in on CRM. Nomura set a $184.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, March 5th. Societe Generale set a $186.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, March 5th. SunTrust Banks lifted their price objective on salesforce.com to $183.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Credit Suisse Group reiterated a “buy” rating and set a $175.00 price objective on shares of salesforce.com in a research note on Tuesday, March 5th. Finally, Deutsche Bank reiterated a “buy” rating on shares of salesforce.com in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $180.03.

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $116.52 billion, a price-to-earnings ratio of 104.33, a PEG ratio of 5.13 and a beta of 1.38.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $0.74 EPS. salesforce.com’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, analysts forecast that salesforce.com, inc. will post 1.45 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its holdings in salesforce.com by 17.5% in the 4th quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock worth $10,006,000 after buying an additional 10,864 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in salesforce.com by 5.7% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock worth $12,808,000 after buying an additional 5,063 shares during the last quarter. Heritage Investors Management Corp boosted its holdings in salesforce.com by 10.0% in the 1st quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock worth $5,452,000 after buying an additional 3,143 shares during the last quarter. Putnam FL Investment Management Co. boosted its holdings in salesforce.com by 0.5% in the 4th quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock worth $2,930,000 after buying an additional 97 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of salesforce.com by 65.9% during the 4th quarter. MML Investors Services LLC now owns 30,074 shares of the CRM provider’s stock worth $4,119,000 after purchasing an additional 11,941 shares during the last quarter. Institutional investors own 82.14% of the company’s stock.

TRADEMARK VIOLATION WARNING: “salesforce.com (NYSE:CRM) Shares Gap Down After Insider Selling” was originally published by Week Herald and is owned by of Week Herald. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://weekherald.com/2019/06/13/salesforce-com-nysecrm-shares-gap-down-after-insider-selling.html.

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.

Featured Story: How does the Beige Book influence monetary policy?

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.