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

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Traders bought shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading hours on Wednesday following insider selling activity. $241.87 million flowed into the stock on the tick-up and $178.13 million flowed out of the stock on the tick-down, for a money net flow of $63.74 million into the stock. Of all stocks tracked, salesforce.com had the 11th highest net in-flow for the day. salesforce.com traded down ($2.39) for the day and closed at $160.40Specifically, Director Craig Conway sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $146.07, for a total transaction of $29,214.00. Following the completion of the sale, the director now directly owns 9,198 shares of the company’s stock, valued at approximately $1,343,551.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 5,711 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $162.35, for a total value of $927,180.85. Following the sale, the insider now directly owns 29,974 shares of the company’s stock, valued at $4,866,278.90. The disclosure for this sale can be found here. Insiders have sold a total of 521,985 shares of company stock valued at $72,639,949 over the last three months. Corporate insiders own 6.00% of the company’s stock.

A number of analysts have commented on CRM shares. TheStreet lowered salesforce.com from a “b-” rating to a “c+” rating in a report on Friday, October 26th. ValuEngine raised salesforce.com from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $182.00 target price on shares of salesforce.com in a report on Wednesday, November 28th. Zacks Investment Research reaffirmed a “hold” rating on shares of salesforce.com in a report on Monday, November 12th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $160.00 target price on shares of salesforce.com in a report on Wednesday, November 28th. Three equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and an average price target of $170.38.

The firm has a market cap of $122.33 billion, a price-to-earnings ratio of 356.44, a price-to-earnings-growth ratio of 5.08 and a beta of 1.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same period in the prior year, the company earned $0.39 earnings per share. salesforce.com’s revenue was up 25.6% compared to the same quarter last year. Equities analysts anticipate that salesforce.com, inc. will post 1.32 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of salesforce.com during the fourth quarter worth $28,000. Intercontinental Wealth Advisors LLC purchased a new stake in shares of salesforce.com during the fourth quarter worth $36,000. Certified Advisory Corp lifted its position in shares of salesforce.com by 52.4% during the fourth quarter. Certified Advisory Corp now owns 291 shares of the CRM provider’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of salesforce.com during the fourth quarter worth $41,000. Finally, Ruggie Capital Group purchased a new stake in shares of salesforce.com during the fourth quarter worth $45,000. 85.17% of the stock is owned by institutional investors and hedge funds.

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salesforce.com Company Profile (NYSE:CRM)

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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