Traders Sell Shares of salesforce.com (CRM) on Strength Following Insider Selling
Investors sold shares of salesforce.com, inc. (NYSE:CRM) on strength during trading on Wednesday following insider selling activity. $115.60 million flowed into the stock on the tick-up and $217.66 million flowed out of the stock on the tick-down, for a money net flow of $102.06 million out of the stock. Of all stocks tracked, salesforce.com had the 0th highest net out-flow for the day. salesforce.com traded up $1.33 for the day and closed at $109.02Specifically, Chairman Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $108.21, for a total transaction of $541,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 1,877 shares of salesforce.com stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $107.70, for a total value of $202,152.90. Following the sale, the insider now directly owns 15,502 shares of the company’s stock, valued at approximately $1,669,565.40. The disclosure for this sale can be found here. Insiders have sold 469,180 shares of company stock valued at $50,769,663 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.
A number of equities research analysts recently commented on CRM shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of salesforce.com in a report on Thursday, November 9th. BMO Capital Markets lifted their price target on salesforce.com from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Societe Generale set a $130.00 price target on salesforce.com and gave the company a “buy” rating in a research report on Wednesday, November 15th. Guggenheim assumed coverage on salesforce.com in a research report on Monday, October 30th. They set a “buy” rating and a $125.00 price target for the company. Finally, Barclays lifted their price target on salesforce.com from $101.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-five have issued a buy rating to the company’s stock. salesforce.com presently has an average rating of “Buy” and a consensus target price of $113.62.
The firm has a market capitalization of $78,750.00, a P/E ratio of 10,902.00, a price-to-earnings-growth ratio of 6.01 and a beta of 1.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sandy Spring Bank boosted its stake in salesforce.com by 1.7% during the fourth quarter. Sandy Spring Bank now owns 27,382 shares of the CRM provider’s stock worth $2,799,000 after buying an additional 470 shares during the last quarter. King Luther Capital Management Corp boosted its stake in salesforce.com by 16.3% during the third quarter. King Luther Capital Management Corp now owns 3,414 shares of the CRM provider’s stock worth $319,000 after buying an additional 479 shares during the last quarter. Cetera Advisors LLC boosted its stake in salesforce.com by 17.5% during the fourth quarter. Cetera Advisors LLC now owns 3,259 shares of the CRM provider’s stock worth $334,000 after buying an additional 485 shares during the last quarter. Whalerock Point Partners LLC boosted its stake in salesforce.com by 16.1% during the third quarter. Whalerock Point Partners LLC now owns 3,615 shares of the CRM provider’s stock worth $338,000 after buying an additional 500 shares during the last quarter. Finally, BB&T Corp boosted its stake in salesforce.com by 2.7% during the third quarter. BB&T Corp now owns 20,218 shares of the CRM provider’s stock worth $1,888,000 after buying an additional 525 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors.
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Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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