Tuesday, October 14, 2014

Salesforce.com CEO Marc Benioff has sold another 20,000 shares last week making that 7 consecutive weeks of selling CRM stock and now a total of 340,000 shares sold

Salesforce.com CEO Marc Benioff has sold another 20,000 shares last week making that 7 consecutive weeks of selling CRM stock and now a total of 340,000 shares....and we're not sure of the last time we've seen a CEO sell shares for 7 consecutive weeks.   Click here to see the previous report and history of this sell off run.  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 this news below... 
Mark Dietrich for WatchListNews.com writes: Marc Benioff sold 20,000 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $57.84, for a total value of $1,156,800.00. The sale was disclosed in a document filed with the SEC, which is available atthis link.
Shares of salesforce.com, inc. (NYSE:CRM) traded down 2.81% on Monday, hitting $53.23. 5,442,204 shares of the company’s stock traded hands. salesforce.com, inc. has a 1-year low of $48.18 and a 1-year high of $67.00. The stock has a 50-day moving average of $58.06 and a 200-day moving average of $55.29. The company’s market cap is $32.949 billion.
salesforce.com, inc. (NYSE:CRM) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter 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.
CRM has been the subject of a number of recent research reports. Analysts at Nomura reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Friday. They now have a $70.00 price target on the stock, up previously from $65.00. Separately, analysts at Northland Securities reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Friday. They now have a $70.00 price target on the stock, up previously from $65.00. Finally, analysts at MKM Partners initiated coverage on shares of salesforce.com, inc. in a research note on Thursday. They set a “buy” rating and a $67.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $68.42.
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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