Saturday, September 20, 2014

Insider Selling: salesforce.com, inc. CEO Marc Benioff Sells 60,000 Shares of Stock (CRM), totaling 220,000 Shares Sold in 4 transactions over 4 consecutive weeks

This is Mr. Benioff's 4th selling transaction in about 4 weeks totally 220,000 shares sold.  Click Here to read of his previous 3 selling transactions of 160,000 shares.   It appears the sell off continues with Mr. Benioff, as Mr. Benioff is worth $3 Billion, it's not a lot of money (for him)....but the interest is about the optics of the CEO selling 220,000 shares of a stock [CRM] in 4 separate transactions over 4 weeks of what many consider to be the most overvalued stock there is (click to read why).   They optics lean towards lending credence of the criticism of salesforce.com's valuation.
 Lindsey Winhoffer for writes: WatchListNews.com salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 60,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $57.78, for a total transaction of $3,466,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of salesforce.com, inc. in a research note on Monday. They now have a $72.00 price target on the stock, down previously from $75.00. Separately, analysts at Barclays raised their price target on shares of salesforce.com, inc. from $63.00 to $67.00 in a research note on Thursday, September 4th. They now have an “overweight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of salesforce.com, inc. in a research note on Monday, August 25th. They now have a $63.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $67.93.
Shares of salesforce.com, inc. (NYSE:CRM) traded up 1.01% on Friday, hitting $58.24. The stock had a trading volume of 6,461,091 shares. salesforce.com, inc. has a 52-week low of $48.18 and a 52-week high of $67.00. The stock has a 50-day moving average of $57.02 and a 200-day moving average of $55.63. The company’s market cap is $36.051 billion.
salesforce.com, inc. (NYSE:CRM) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.01. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company posted $0.09 earnings per share. salesforce.com, inc.’s revenue was up 37.9% compared to the same quarter last year. On average, analysts predict that salesforce.com, inc. will post $0.52 earnings per share for the current fiscal year.

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