Sunday, September 28, 2014

Salesforce.com, inc. CEO Marc Benioff Sells another 40,000 Shares of Stock (CRM), totaling 260,000 Shares Sold in 5 transactions over 5 consecutive weeks.

Of course last week we posted,   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

Mr. Benioff has sold another 40,000 shares this past week making that 5 consecutive weeks of selling CRM stock and now a total of 260,000 shares....and we're not sure of the last time we've seen a CEO sell shares for 5 consecutive weeks.   As Mr. Benioff is worth $3 Billion it's not a lot of money for him....but the interest level is driven by the "optics" of what many consider to be the most overvalued stock there is (click to read why).  (Salesforce.com's valuation is debated extensively - and to many insider selling matters).  

On that note....Logan Wallace for TicketReport.com writes:  Marc Benioff sold 40,000 shares of salesforce.com, inc. stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $56.34, for a total transaction of $2,253,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
salesforce.com, inc. (NYSE:CRM) traded up 1.14% on Friday, hitting $56.56. 2,830,809 shares of the company’s stock traded hands. salesforce.com, inc. has a 52 week low of $48.18 and a 52 week high of $67.00. The stock’s 50-day moving average is $57.4 and its 200-day moving average is $55.44. The company’s market cap is $35.011 billion.
salesforce.com, inc. (NYSE:CRM) last released its earnings data on Thursday, August 21st. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 37.9% on a year-over-year basis. Analysts expect that salesforce.com, inc. will post $0.52 EPS for the current fiscal year.
A number of analysts have recently weighed in on CRM shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Thursday. They now have a $70.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated a “positive” rating on shares of salesforce.com, inc. in a research note on Wednesday. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of salesforce.com, inc. in a research note on Monday, September 15th. They now have a $72.00 price target on the stock, down previously from $75.00. Five equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.93.
salesforce.com, inc. is a provider of enterprise cloud computing and social enterprise solutions. The Company provides a customer and collaboration relationship management (NYSE:CRM), applications through the Internet or cloud.

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