Investors Buy Shares of salesforce.com, inc. (CRM) on Weakness Following Insider Selling

Traders purchased shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading on Friday after an insider sold shares in the company. $353.02 million flowed into the stock on the tick-up and $318.86 million flowed out of the stock on the tick-down, for a money net flow of $34.16 million into the stock. Of all stocks tracked, salesforce.com, inc. had the 11th highest net in-flow for the day. salesforce.com, inc. traded down ($0.35) for the day and closed at $87.40Specifically, Chairman Marc Benioff sold 10,000 shares of salesforce.com, inc. stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $81.64, for a total value of $816,400.00. Following the completion of the sale, the chairman now directly owns 34,195,300 shares in the company, valued at $2,791,704,292. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Burke F. Norton sold 379,189 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $91.37, for a total value of $34,646,498.93. Following the transaction, the executive vice president now owns 82,843 shares of the company’s stock, valued at $7,569,364.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,568,176 shares of company stock valued at $137,235,429. 6.70% of the stock is currently owned by corporate insiders.

Several equities analysts have commented on CRM shares. Goldman Sachs Group, Inc. (The) set a $96.00 target price on salesforce.com, inc. and gave the company a “buy” rating in a research report on Wednesday, March 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $102.00 price target (up previously from $100.00) on shares of salesforce.com, inc. in a research note on Friday, May 19th. Societe Generale set a $98.00 price target on salesforce.com, inc. and gave the company a “buy” rating in a research note on Thursday, March 2nd. BMO Capital Markets reaffirmed a “buy” rating and set a $92.00 target price on shares of salesforce.com, inc. in a research note on Wednesday, March 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $102.00 target price (up previously from $98.00) on shares of salesforce.com, inc. in a research note on Wednesday, March 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $96.78.

The stock has a 50-day moving average of $88.51 and a 200-day moving average of $81.28. The company has a market capitalization of $62.16 billion, a P/E ratio of 461.772 and a beta of 1.24.

salesforce.com, inc. (NYSE:CRM) last released its earnings results on Thursday, May 18th. The CRM provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. salesforce.com, inc. had a negative return on equity of 0.48% and a negative net margin of 0.39%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Equities research analysts predict that salesforce.com, inc. will post $1.30 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Allied Advisory Services Inc. raised its stake in shares of salesforce.com, inc. by 152.7% in the fourth quarter. First Allied Advisory Services Inc. now owns 12,824 shares of the CRM provider’s stock worth $878,000 after buying an additional 7,749 shares during the period. Cim Investment Mangement Inc. boosted its position in shares of salesforce.com, inc. by 1.5% in the fourth quarter. Cim Investment Mangement Inc. now owns 9,011 shares of the CRM provider’s stock valued at $617,000 after buying an additional 131 shares during the period. ShearLink Capital LLC bought a new position in shares of salesforce.com, inc. during the fourth quarter valued at $20,648,000. Pacad Investment Ltd. bought a new position in shares of salesforce.com, inc. during the fourth quarter valued at $1,280,000. Finally, Bayesian Capital Management LP bought a new position in shares of salesforce.com, inc. during the fourth quarter valued at $1,798,000. Institutional investors own 85.69% of the company’s stock.

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About salesforce.com, inc.

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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