Salesforce.com Inc (NYSE:CRM) CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $74.94, for a total value of $749,400.00. Following the transaction, the chief executive officer now owns 34,155,500 shares in the company, valued at $2,559,613,170. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Marc Benioff also recently made the following trade(s):
Salesforce.com Inc (NYSE:CRM) traded up 1.01% during midday trading on Wednesday, hitting $75.78. 3,969,485 shares of the stock traded hands. The company has a 50-day moving average of $71.50 and a 200-day moving average of $75.18. Salesforce.com Inc has a 1-year low of $52.60 and a 1-year high of $84.48. The stock has a market cap of $52.80 billion, a PE ratio of 256.88 and a beta of 1.46.
Salesforce.com (NYSE:CRM) last posted its earnings results on Thursday, November 17th. The CRM provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The company earned $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, equities analysts expect that Salesforce.com Inc will post $0.98 EPS for the current fiscal year.
A number of brokerages have issued reports on CRM. Wells Fargo & Company began coverage on Salesforce.com in a research report on Wednesday, January 11th. They issued an “outperform” rating on the stock. Vetr lowered Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $82.64 target price on the stock. in a research report on Monday, January 9th. Pacific Crest reissued an “overweight” rating on shares of Salesforce.com in a research report on Saturday, January 7th. Canaccord Genuity reissued an “outperform” rating and issued a $95.00 target price on shares of Salesforce.com in a research report on Friday, January 6th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a research report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $92.00.
A number of hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock valued at $16,360,000 after buying an additional 2,648 shares in the last quarter. Bank of Montreal Can acquired a new stake in Salesforce.com during the second quarter valued at approximately $31,592,000. Mizuho Trust & Banking Co. Ltd. increased its stake in Salesforce.com by 1.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,009,351 shares of the CRM provider’s stock valued at $80,153,000 after buying an additional 10,367 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Salesforce.com by 17.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,096,940 shares of the CRM provider’s stock valued at $87,108,000 after buying an additional 165,000 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Salesforce.com by 4.4% in the third quarter. Rhumbline Advisers now owns 962,662 shares of the CRM provider’s stock valued at $68,667,000 after buying an additional 40,697 shares in the last quarter. 85.15% of the stock is owned by institutional investors.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.