Traders Buy Salesforce.com Inc (CRM) on Weakness After 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. $60.05 million flowed into the stock on the tick-up and $42.25 million flowed out of the stock on the tick-down, for a money net flow of $17.80 million into the stock. Of all companies tracked, Salesforce.com had the 12th highest net in-flow for the day. Salesforce.com traded down ($0.39) for the day and closed at $80.64Specifically, Director Susan Wojcicki acquired 1,256 shares of the business’s stock in a transaction dated Monday, February 6th. The shares were purchased at an average price of $79.61 per share, with a total value of $99,990.16. Following the transaction, the director now directly owns 22,612 shares in the company, valued at $1,800,141.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of Salesforce.com stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $81.33, for a total transaction of $813,300.00. Following the completion of the transaction, the chairman now directly owns 34,195,300 shares in the company, valued at approximately $2,781,103,749. The disclosure for this sale can be found here. In the last three months, insiders have acquired 4,052 shares of company stock worth $299,908 and have sold 1,169,954 shares worth $86,971,579. Company insiders own 6.70% of the company’s stock.

CRM has been the topic of several research analyst reports. Cowen and Company set a $95.00 target price on shares of Salesforce.com and gave the stock a “buy” rating in a research report on Monday, November 14th. Rosenblatt Securities initiated coverage on shares of Salesforce.com in a research report on Tuesday, October 18th. They set a “buy” rating and a $90.00 target price on the stock. Pacific Crest reissued a “buy” rating and set a $95.00 target price on shares of Salesforce.com in a research report on Friday, November 18th. BTIG Research reissued a “buy” rating on shares of Salesforce.com in a research report on Friday, November 18th. Finally, Goldman Sachs Group, Inc. (The) set a $96.00 target price on shares of Salesforce.com and gave the stock a “buy” rating in a research report on Friday, November 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. Salesforce.com presently has a consensus rating of “Buy” and an average price target of $92.44.

The stock has a 50-day moving average of $75.77 and a 200-day moving average of $74.97. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 273.36 and a beta of 1.42.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share for the quarter, beating 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 business earned $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the previous year, the business earned $0.21 EPS. The business’s quarterly revenue was up 25.3% on a year-over-year basis. On average, analysts forecast that Salesforce.com Inc will post $0.98 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Mizuho Trust & Banking Co. Ltd. increased its position in shares of 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 worth $80,153,000 after buying an additional 10,367 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of 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 worth $87,108,000 after buying an additional 165,000 shares during the last quarter. Rhumbline Advisers increased its position in shares of Salesforce.com by 4.4% in the third quarter. Rhumbline Advisers now owns 962,662 shares of the CRM provider’s stock worth $68,667,000 after buying an additional 40,697 shares during the last quarter. Columbus Circle Investors bought a new position in shares of Salesforce.com during the second quarter worth approximately $58,994,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Salesforce.com by 82.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 207,860 shares of the CRM provider’s stock worth $14,804,000 after buying an additional 93,959 shares during the last quarter. Institutional investors and hedge funds own 86.17% of the company’s stock.

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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.

5 Day Chart for NYSE:CRM

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