salesforce.com (CRM) Shares Gap Down After Insider Selling

Shares of salesforce.com, inc. (NYSE:CRM) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $162.32, but opened at $158.07. salesforce.com shares last traded at $155.06, with a volume of 7637987 shares.

Specifically, insider Amy E. Weaver sold 5,325 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $161.08, for a total transaction of $857,751.00. Following the transaction, the insider now directly owns 29,127 shares of the company’s stock, valued at approximately $4,691,777.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig Conway sold 200 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $153.00, for a total value of $30,600.00. Following the transaction, the director now directly owns 9,110 shares in the company, valued at $1,393,830. The disclosure for this sale can be found here. Insiders have sold a total of 439,500 shares of company stock worth $70,392,703 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on CRM. OTR Global lowered salesforce.com to a “positive” rating in a research report on Wednesday. Exane BNP Paribas began coverage on salesforce.com in a research report on Friday, March 29th. They set an “outperform” rating on the stock. BNP Paribas began coverage on salesforce.com in a research report on Friday, March 29th. They set an “outperform” rating on the stock. Credit Suisse Group reiterated a “buy” rating and set a $175.00 price target on shares of salesforce.com in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $180.00 price target on shares of salesforce.com in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $177.82.

The firm has a market capitalization of $118.04 billion, a price-to-earnings ratio of 106.94, a PEG ratio of 5.65 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.20.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.56 billion. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, research analysts predict that salesforce.com, inc. will post 1.18 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in CRM. Martingale Asset Management L P raised its holdings in shares of salesforce.com by 32.1% during the third quarter. Martingale Asset Management L P now owns 7,413 shares of the CRM provider’s stock valued at $1,179,000 after acquiring an additional 1,801 shares during the last quarter. Vanguard Group Inc raised its holdings in shares of salesforce.com by 4.6% during the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock valued at $8,662,570,000 after acquiring an additional 2,398,648 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of salesforce.com during the fourth quarter valued at approximately $177,000. Endurance Wealth Management Inc. raised its holdings in shares of salesforce.com by 300.0% during the fourth quarter. Endurance Wealth Management Inc. now owns 600 shares of the CRM provider’s stock valued at $82,000 after acquiring an additional 450 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in shares of salesforce.com by 6.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 119,019 shares of the CRM provider’s stock valued at $16,302,000 after acquiring an additional 7,122 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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About salesforce.com (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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