salesforce.com, inc. (CRM) CEO Keith Block Sells 2,160 Shares

salesforce.com, inc. (NYSE:CRM) CEO Keith Block sold 2,160 shares of the firm’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $137.60, for a total transaction of $297,216.00. Following the completion of the transaction, the chief executive officer now directly owns 23,836 shares of the company’s stock, valued at approximately $3,279,833.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Keith Block also recently made the following trade(s):

  • On Tuesday, October 9th, Keith Block sold 2,160 shares of salesforce.com stock. The shares were sold at an average price of $148.05, for a total transaction of $319,788.00.
  • On Thursday, October 4th, Keith Block sold 2,160 shares of salesforce.com stock. The shares were sold at an average price of $158.79, for a total transaction of $342,986.40.
  • On Tuesday, October 2nd, Keith Block sold 2,160 shares of salesforce.com stock. The shares were sold at an average price of $159.14, for a total transaction of $343,742.40.
  • On Thursday, August 23rd, Keith Block sold 1,039 shares of salesforce.com stock. The shares were sold at an average price of $147.23, for a total transaction of $152,971.97.
  • On Thursday, August 9th, Keith Block sold 9,604 shares of salesforce.com stock. The shares were sold at an average price of $145.49, for a total transaction of $1,397,285.96.
  • On Tuesday, August 7th, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $143.61, for a total transaction of $1,436,100.00.
  • On Thursday, August 2nd, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $137.95, for a total transaction of $1,379,500.00.
  • On Thursday, July 26th, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $147.13, for a total transaction of $1,471,300.00.
  • On Tuesday, July 24th, Keith Block sold 10,000 shares of salesforce.com stock. The shares were sold at an average price of $148.44, for a total transaction of $1,484,400.00.

CRM stock traded up $7.50 during midday trading on Friday, reaching $146.74. 9,140,772 shares of the company were exchanged, compared to its average volume of 5,423,272. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. salesforce.com, inc. has a 1-year low of $95.93 and a 1-year high of $161.19. The stock has a market cap of $120.34 billion, a P/E ratio of 326.09, a PEG ratio of 5.23 and a beta of 1.27.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, equities research analysts predict that salesforce.com, inc. will post 1.22 earnings per share for the current year.

CRM has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. KeyCorp lifted their price target on shares of salesforce.com from $147.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. Oppenheimer lifted their price target on shares of salesforce.com from $152.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 11th. UBS Group lifted their price target on shares of salesforce.com from $168.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of salesforce.com in a research note on Thursday, August 30th. Five analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $164.62.

Several institutional investors have recently made changes to their positions in the company. Gemmer Asset Management LLC increased its holdings in shares of salesforce.com by 105.9% in the 3rd quarter. Gemmer Asset Management LLC now owns 41,289 shares of the CRM provider’s stock valued at $6,566,000 after acquiring an additional 21,236 shares during the period. Bank of Montreal Can increased its holdings in shares of salesforce.com by 63.7% in the 3rd quarter. Bank of Montreal Can now owns 1,857,113 shares of the CRM provider’s stock valued at $295,337,000 after acquiring an additional 722,512 shares during the period. Bellecapital International Ltd. acquired a new position in shares of salesforce.com in the 3rd quarter valued at $2,369,000. Busey Trust CO acquired a new position in shares of salesforce.com in the 3rd quarter valued at $207,000. Finally, Gradient Investments LLC increased its holdings in shares of salesforce.com by 6.0% in the 3rd quarter. Gradient Investments LLC now owns 7,668 shares of the CRM provider’s stock valued at $1,219,000 after acquiring an additional 437 shares during the period. 82.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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