Salesforce-SF30598LOGO-300x282salesforce.com, inc. CEO Marc Benioff sold 12,500 shares of the stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $72.86, for a total value of $910,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Several institutional investors have recently bought and sold shares of the company. ING Groep purchased a new position in salesforce.com, inc. during the third quarter valued at approximately $1,267,000. First American Trust boosted its position in salesforce.com, inc. by 3.1% in the fourth quarter. First American Trust now owns 36,100 shares of the CRM provider’s stock valued at $2,830,000 after buying an additional 1,085 shares in the last quarter. Edge Wealth Management boosted its position in salesforce.com, inc. by 2.1% in the fourth quarter. Edge Wealth Management now owns 3,470 shares of the CRM provider’s stock valued at $274,000 after buying an additional 70 shares in the last quarter. Reynolds Capital Management boosted its position in salesforce.com, inc. by 29.7% in the fourth quarter. Reynolds Capital Management now owns 4,800 shares of the CRM provider’s stock valued at $376,000 after buying an additional 1,100 shares in the last quarter. Finally, Creative Planning boosted its position in salesforce.com, inc. by 9.2% in the fourth quarter. Creative Planning now owns 28,516 shares of the CRM provider’s stock valued at $2,236,000 after buying an additional 2,405 shares in the last quarter.

A number of brokerages recently weighed in on CRM. Goldman Sachs set a $99.00 price objective on salesforce.com, inc. and gave the company a “buy” rating in a research note on Thursday, February 18th. Vetr raised salesforce.com, inc. from a “hold” rating to a “buy” rating and set a $77.47 price objective on the stock in a research note on Thursday, January 7th. Piper Jaffray reissued an “overweight” rating and issued a $86.00 price objective (up from $84.00) on shares of salesforce.com, inc. in a research note on Wednesday, February 17th. Oppenheimer reissued a “buy” rating and issued a $88.00 price objective on shares of salesforce.com, inc. in a research note on Sunday, February 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of salesforce.com, inc. in a research note on Friday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and forty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $85.46.

Salesforce chartShares of salesforce.com, inc. (NYSE:CRM) traded down 0.13% during midday trading on Thursday, hitting $71.69. The company’s stock had a trading volume of 343,576 shares. The stock’s 50 day moving average is $66.81 and its 200-day moving average is $73.26. salesforce.com, inc. has a 52-week low of $52.60 and a 52-week high of $82.90. The firm’s market cap is $47.96 billion.

salesforce.com, inc. (NYSE:CRM) last posted its earnings results on Wednesday, February 24th. The CRM provider reported $0.19 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $0.14 EPS. salesforce.com, inc.’s quarterly revenue was up 25.3% compared to the same quarter last year. Equities analysts predict that salesforce.com, inc. will post $1.01 EPS for the current fiscal year.

salesforce.com, inc. is a provider of enterprise cloud computing solutions that include apps and platform services, as well as professional services. The Company focuses on customer relationship management (NYSE:CRM). The Company offers six core cloud services that include sales force automation, customer service and support, marketing automation, community management, analytics and a cloud platform for building custom applications.

Source: The Vista Voice