Insider Selling: salesforce.com, inc. (NYSE:CRM) Insider Sells $988,600.00 in Stock

salesforce.com, inc. (NYSE:CRM) insider Srinivas Tallapragada sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $197.72, for a total transaction of $988,600.00. Following the completion of the transaction, the insider now owns 46,788 shares of the company’s stock, valued at $9,250,923.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Srinivas Tallapragada also recently made the following trade(s):

  • On Monday, June 22nd, Srinivas Tallapragada sold 25,000 shares of salesforce.com stock. The shares were sold at an average price of $188.57, for a total transaction of $4,714,250.00.
  • On Monday, June 8th, Srinivas Tallapragada sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $173.63, for a total transaction of $868,150.00.
  • On Thursday, May 7th, Srinivas Tallapragada sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $166.50, for a total transaction of $832,500.00.
  • On Thursday, April 23rd, Srinivas Tallapragada sold 800 shares of salesforce.com stock. The shares were sold at an average price of $155.25, for a total transaction of $124,200.00.

salesforce.com stock opened at $198.88 on Friday. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $202.82. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $182.31 and its 200 day simple moving average is $170.89. The company has a market cap of $178.83 billion, a price-to-earnings ratio of -1,104.89, a PEG ratio of 9.89 and a beta of 1.08.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. salesforce.com had a positive return on equity of 2.45% and a negative net margin of 0.92%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. salesforce.com’s revenue for the quarter was up 30.2% on a year-over-year basis. As a group, equities research analysts forecast that salesforce.com, inc. will post 1.13 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the stock. Wedbush reduced their price objective on shares of salesforce.com from $217.00 to $184.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. SunTrust Banks reaffirmed a “buy” rating and issued a $210.00 price objective on shares of salesforce.com in a research note on Friday, May 22nd. Monness Crespi & Hardt upped their price objective on shares of salesforce.com from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, May 29th. OTR Global lowered shares of salesforce.com to a “positive” rating in a research note on Wednesday, May 13th. Finally, Credit Suisse Group reissued a “buy” rating and set a $200.00 target price on shares of salesforce.com in a research note on Friday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $199.77.

A number of institutional investors have recently bought and sold shares of CRM. Norway Savings Bank lifted its position in shares of salesforce.com by 1.8% during the second quarter. Norway Savings Bank now owns 3,040 shares of the CRM provider’s stock worth $570,000 after acquiring an additional 55 shares in the last quarter. Shepherd Financial Partners LLC lifted its position in shares of salesforce.com by 0.8% during the first quarter. Shepherd Financial Partners LLC now owns 7,907 shares of the CRM provider’s stock worth $1,136,000 after acquiring an additional 59 shares in the last quarter. FLC Capital Advisors lifted its position in shares of salesforce.com by 1.2% during the second quarter. FLC Capital Advisors now owns 5,267 shares of the CRM provider’s stock worth $1,041,000 after acquiring an additional 60 shares in the last quarter. Bay Rivers Group lifted its position in shares of salesforce.com by 1.1% during the second quarter. Bay Rivers Group now owns 5,458 shares of the CRM provider’s stock worth $1,022,000 after acquiring an additional 61 shares in the last quarter. Finally, Buckingham Asset Management LLC lifted its position in shares of salesforce.com by 1.4% during the first quarter. Buckingham Asset Management LLC now owns 4,667 shares of the CRM provider’s stock worth $672,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

About salesforce.com

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.

Further Reading: Secondary Public Offerings

Insider Buying and Selling by Quarter for salesforce.com (NYSE:CRM)

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