Salesforce.com Inc. (CRM) EVP Burke F. Norton Sells 1,983 Shares
Salesforce.com Inc. (NYSE:CRM) EVP Burke F. Norton sold 1,983 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $73.03, for a total transaction of $144,818.49. Following the completion of the transaction, the executive vice president now directly owns 77,168 shares of the company’s stock, valued at $5,635,579.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Salesforce.com Inc. (NYSE:CRM) opened at 72.93 on Wednesday. The firm has a market capitalization of $50.81 billion, a price-to-earnings ratio of 247.22 and a beta of 1.55. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48. The company has a 50-day moving average of $74.32 and a 200 day moving average of $77.55.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the firm earned $0.21 earnings per share. Salesforce.com’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, analysts anticipate that Salesforce.com Inc. will post $0.98 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in CRM. Vanguard Group Inc. raised its position in Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock worth $3,130,829,000 after buying an additional 1,181,756 shares in the last quarter. Jennison Associates LLC raised its position in Salesforce.com by 3.2% in the third quarter. Jennison Associates LLC now owns 20,758,784 shares of the CRM provider’s stock valued at $1,480,724,000 after buying an additional 649,445 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Salesforce.com by 3.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 16,980,055 shares of the CRM provider’s stock valued at $1,211,187,000 after buying an additional 585,931 shares in the last quarter. Ameriprise Financial Inc. raised its position in Salesforce.com by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 8,648,009 shares of the CRM provider’s stock valued at $616,865,000 after buying an additional 420,944 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in Salesforce.com by 0.7% in the second quarter. Baillie Gifford & Co. now owns 6,981,936 shares of the CRM provider’s stock valued at $554,435,000 after buying an additional 47,955 shares in the last quarter. 85.24% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on CRM shares. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 target price on the stock in a research note on Wednesday, August 10th. MKM Partners restated a “buy” rating and issued a $96.00 target price on shares of Salesforce.com in a research note on Friday, August 5th. Stifel Nicolaus restated a “buy” rating and issued a $93.00 target price on shares of Salesforce.com in a research note on Thursday, August 25th. Bank of America Corp. restated a “buy” rating and issued a $77.82 target price (down previously from $100.00) on shares of Salesforce.com in a research note on Thursday, August 25th. Finally, Mizuho restated a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $92.05.
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.
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