Salesforce.com Inc (NYSE:CRM) Director Craig Conway sold 250 shares of Salesforce.com stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $75.19, for a total transaction of $18,797.50. Following the completion of the sale, the director now owns 9,243 shares of the company’s stock, valued at $694,981.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Craig Conway also recently made the following trade(s):
Salesforce.com Inc (NYSE:CRM) traded up 1.01% during mid-day trading on Wednesday, hitting $75.78. The company had a trading volume of 3,969,485 shares. The company’s 50 day moving average price is $71.50 and its 200-day moving average price is $75.18. The company has a market cap of $52.80 billion, a PE ratio of 256.88 and a beta of 1.46. Salesforce.com Inc has a one year low of $52.60 and a one year high of $84.48.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. The company earned $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts anticipate that Salesforce.com Inc will post $0.98 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fort Point Capital Partners LLC raised its position in shares of Salesforce.com by 24.0% in the third quarter. Fort Point Capital Partners LLC now owns 129,220 shares of the CRM provider’s stock worth $9,217,000 after buying an additional 25,000 shares during the period. ETRADE Capital Management LLC raised its position in shares of Salesforce.com by 20.8% in the third quarter. ETRADE Capital Management LLC now owns 6,565 shares of the CRM provider’s stock worth $468,000 after buying an additional 1,131 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Salesforce.com during the third quarter worth about $9,398,000. Marvin & Palmer Associates Inc. raised its position in shares of Salesforce.com by 90.8% in the third quarter. Marvin & Palmer Associates Inc. now owns 56,660 shares of the CRM provider’s stock worth $4,042,000 after buying an additional 26,960 shares during the period. Finally, LPL Financial LLC raised its position in shares of Salesforce.com by 6.2% in the third quarter. LPL Financial LLC now owns 26,626 shares of the CRM provider’s stock worth $1,934,000 after buying an additional 1,554 shares during the period. Institutional investors own 85.15% of the company’s stock.
A number of research firms have issued reports on CRM. Rosenblatt Securities set a $90.00 price target on shares of Salesforce.com and gave the stock a “buy” rating in a research report on Saturday, November 19th. Cowen and Company reissued a “buy” rating on shares of Salesforce.com in a research report on Sunday, November 20th. Morgan Stanley reissued an “overweight” rating and set a $107.00 price target on shares of Salesforce.com in a research report on Wednesday, November 2nd. Mizuho raised their price target on shares of Salesforce.com from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, November 18th. Finally, BMO Capital Markets raised their price target on shares of Salesforce.com from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, November 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $92.00.
Salesforce.com Company Profile
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.