Investors Sell Shares of salesforce.com (CRM) on Strength Following Insider Selling

Traders sold shares of salesforce.com, inc. (NYSE:CRM) on strength during trading hours on Wednesday after an insider sold shares in the company. $174.91 million flowed into the stock on the tick-up and $194.05 million flowed out of the stock on the tick-down, for a money net flow of $19.14 million out of the stock. Of all stocks tracked, salesforce.com had the 33rd highest net out-flow for the day. salesforce.com traded up $2.80 for the day and closed at $145.25Specifically, insider Parker Harris sold 2,204 shares of the business’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $142.30, for a total value of $313,629.20. Following the sale, the insider now directly owns 20,192 shares in the company, valued at $2,873,321.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Keith Block sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $142.11, for a total value of $1,421,100.00. Following the completion of the sale, the insider now owns 30,647 shares in the company, valued at $4,355,245.17. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 18,000 shares of company stock worth $2,363,520 and sold 619,368 shares worth $80,405,126. 6.00% of the stock is currently owned by insiders.

CRM has been the topic of several analyst reports. Sanford C. Bernstein raised salesforce.com from an “underperform” rating to a “market perform” rating in a research note on Thursday, May 3rd. Deutsche Bank boosted their price objective on salesforce.com from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, May 30th. Canaccord Genuity boosted their price objective on salesforce.com from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, May 30th. Monness Crespi & Hardt initiated coverage on salesforce.com in a research note on Wednesday, April 11th. They set a “buy” rating and a $152.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $150.00 price objective (up from $140.00) on shares of salesforce.com in a research note on Wednesday, May 30th. Six research analysts have rated the stock with a hold rating, forty-six have given a buy rating and one has assigned a strong buy rating to the company. salesforce.com has an average rating of “Buy” and an average target price of $134.71.

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $104.04 billion, a price-to-earnings ratio of 319.20, a price-to-earnings-growth ratio of 5.66 and a beta of 1.21.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.46 by $0.28. salesforce.com had a return on equity of 7.25% and a net margin of 4.33%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. analysts forecast that salesforce.com, inc. will post 1 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC lifted its holdings in shares of salesforce.com by 7.0% during the 4th quarter. TIAA CREF Investment Management LLC now owns 9,865,725 shares of the CRM provider’s stock valued at $1,008,573,000 after purchasing an additional 645,099 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in salesforce.com by 3.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,572,224 shares of the CRM provider’s stock worth $764,350,000 after acquiring an additional 226,056 shares during the last quarter. Baillie Gifford & Co. raised its stake in salesforce.com by 4.9% in the 1st quarter. Baillie Gifford & Co. now owns 6,046,347 shares of the CRM provider’s stock worth $703,190,000 after acquiring an additional 280,110 shares during the last quarter. PointState Capital LP raised its stake in salesforce.com by 25.9% in the 1st quarter. PointState Capital LP now owns 2,988,044 shares of the CRM provider’s stock worth $347,510,000 after acquiring an additional 615,029 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in salesforce.com by 3.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,564,409 shares of the CRM provider’s stock worth $298,241,000 after acquiring an additional 83,613 shares during the last quarter. Hedge funds and other institutional investors own 84.20% of the company’s stock.

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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