salesforce.com (CRM) Sets New 1-Year High and Low at $139.75

salesforce.com, inc. (NYSE:CRM)’s share price reached a new 52-week high and low during trading on Thursday . The company traded as low as $139.75 and last traded at $138.97, with a volume of 267207 shares traded. The stock had previously closed at $137.31.

A number of research firms have recently commented on CRM. Zacks Investment Research downgraded salesforce.com from a “strong-buy” rating to a “hold” rating in a report on Monday, June 4th. Roth Capital raised their target price on salesforce.com from $112.00 to $131.00 and gave the company a “neutral” rating in a report on Thursday, May 31st. SunTrust Banks raised their target price on salesforce.com from $133.00 to $146.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. Deutsche Bank raised their target price on salesforce.com from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. Finally, Oppenheimer raised their target price on salesforce.com from $135.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, May 30th. Six analysts have rated the stock with a hold rating and forty-seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $133.75.

The stock has a market capitalization of $98.33 billion, a PE ratio of 307.76, a price-to-earnings-growth ratio of 5.35 and a beta of 1.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29.

salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, May 29th. The CRM provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.94 billion. salesforce.com had a return on equity of 7.25% and a net margin of 4.33%. salesforce.com’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. equities research analysts predict that salesforce.com, inc. will post 1 EPS for the current fiscal year.

In other news, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction on Monday, March 19th. The stock was sold at an average price of $125.63, for a total transaction of $1,256,300.00. Following the transaction, the chairman now owns 29,618 shares in the company, valued at $3,720,909.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Wojcicki purchased 6,000 shares of the stock in a transaction dated Wednesday, April 18th. The shares were acquired at an average price of $123.81 per share, for a total transaction of $742,860.00. Following the acquisition, the director now directly owns 58,393 shares of the company’s stock, valued at approximately $7,229,637.33. The disclosure for this purchase can be found here. Insiders have sold 587,524 shares of company stock worth $73,435,695 over the last ninety days. 6.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its holdings in shares of salesforce.com by 64.1% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock valued at $121,000 after buying an additional 409 shares in the last quarter. Altium Wealth Management LLC grew its holdings in shares of salesforce.com by 15.8% during the first quarter. Altium Wealth Management LLC now owns 3,271 shares of the CRM provider’s stock valued at $381,000 after buying an additional 446 shares in the last quarter. Mogy Joel R Investment Counsel Inc. grew its holdings in shares of salesforce.com by 0.3% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 187,886 shares of the CRM provider’s stock valued at $21,851,000 after buying an additional 475 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of salesforce.com by 17.5% during the fourth quarter. Cetera Advisors LLC now owns 3,259 shares of the CRM provider’s stock valued at $334,000 after buying an additional 485 shares in the last quarter. Finally, Zeke Capital Advisors LLC grew its holdings in shares of salesforce.com by 3.1% during the first quarter. Zeke Capital Advisors LLC now owns 15,968 shares of the CRM provider’s stock valued at $1,857,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 84.76% 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.

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply