Inside Trade: Marc Benioff Sold 12,500 Shares of salesforce.com, inc. (NYSE:CRM)

November 24, 2016 - By Ruchi Gupta

Inside Trade: Marc Benioff Sold 12,500 Shares of salesforce.com, inc. (NYSE:CRM)

Marc Benioff Insider Sell

A public document filed with the Security and Exchange Commission on 23-11-2016 revealed that Marc Benioff, the Chairman of the Board and CEO of Salesforce Com Inc, ‘s company sold 12,500 shares. With avg stock price per share of $74.1 the huge trade’s amount is $925,686 U.S. Dollars. This is not his first insider trade, in the last 30 days, he unloaded another 300,000 shares worth $22,498,510 USD. Marc Benioff now indirectly owns 0 shares. He also directly owns 34608000 shares. In total he holds a stake of 5.12%.

salesforce.com, inc. (NYSE:CRM) Ratings Coverage

Out of 43 analysts covering Salesforce.com (NYSE:CRM), 39 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 91% are positive. $115 is the highest target while $18 is the lowest. The $91.11 average target is 23.20% above today’s ($73.95) stock price. Salesforce.com has been the topic of 105 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Jefferies on Thursday, November 19 with “Underweight”. FBN Securities maintained salesforce.com, inc. (NYSE:CRM) on Thursday, May 19 with “Outperform” rating. The company was maintained on Thursday, September 17 by Jefferies. The firm has “Outperform” rating by FBR Capital given on Saturday, August 22. Wedbush maintained the stock with “Hold” rating in Friday, August 28 report. Jefferies upgraded the stock to “Hold” rating in Tuesday, February 9 report. On Saturday, August 22 the stock rating was maintained by Pacific Crest with “Overweight”. The rating was maintained by Bank of America with “Buy” on Saturday, August 22. The firm has “Buy” rating given on Thursday, May 19 by Citigroup. Pivotal Research maintained the shares of CRM in a report on Thursday, November 19 with “Buy” rating.

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.06, from 1.19 in 2016Q1. The ratio fall, as 50 funds sold all salesforce.com, inc. shares owned while 245 reduced positions. 76 funds bought stakes while 276 increased positions. They now own 582.56 million shares or 1.03% less from 588.62 million shares in 2016Q1.

Commonwealth Bank & Trust Of holds 0% of its portfolio in salesforce.com, inc. (NYSE:CRM) for 1,755 shares. Norinchukin Financial Bank The has invested 0.06% of its portfolio in salesforce.com, inc. (NYSE:CRM). Sunbelt Inc owns 4,430 shares or 0% of their US portfolio. Moreover, Calvert Invest Mngmt has 0.13% invested in salesforce.com, inc. (NYSE:CRM) for 32,119 shares. Glg Llc has invested 0.23% of its portfolio in salesforce.com, inc. (NYSE:CRM). Eastern Retail Bank holds 1.38% of its portfolio in salesforce.com, inc. (NYSE:CRM) for 214,495 shares. Us Retail Bank De holds 216,351 shares or 0.07% of its portfolio. Cornerstone Capital Management Ltd Limited Liability Company holds 0.09% or 137,434 shares in its portfolio. Cornerstone Mgmt Ltd Llc has invested 3.83% of its portfolio in salesforce.com, inc. (NYSE:CRM). Baldwin Brothers Ma has 0.01% invested in the company for 767 shares. Fifth Third Fincl Bank last reported 0% of its portfolio in the stock. Raymond James Na has 0.06% invested in the company for 9,297 shares. Primecap Mgmt Ca last reported 332,860 shares in the company. Amer Interest Group, a New York-based fund reported 236,982 shares. Bell Bancorporation And holds 0.12% or 2,530 shares in its portfolio.

Insider Transactions: Since May 25, 2016, the stock had 3 insider purchases, and 159 insider sales for $155.15 million net activity. Shares for $940,040 were sold by Benioff Marc. Conway Craig had sold 400 shares worth $32,744 on Friday, July 15. $666,816 worth of salesforce.com, inc. (NYSE:CRM) was sold by Weaver Amy E on Monday, October 3. Shares for $837,392 were sold by BLOCK KEITH. Allanson Joe sold $75,367 worth of salesforce.com, inc. (NYSE:CRM) on Thursday, August 25. $20,713 worth of shares were sold by Martinez Maria on Wednesday, May 25. Harris Parker also sold $218,986 worth of salesforce.com, inc. (NYSE:CRM) shares.

The stock decreased 2.17% or $1.64 during the last trading session, hitting $73.95. About 8.52 million shares traded hands or 13.45% up from the average. salesforce.com, inc. (NYSE:CRM) has declined 3.31% since April 22, 2016 and is downtrending. It has underperformed by 8.72% the S&P500.

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management . The company has a market cap of $51.13 billion. The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services. It has a 251.35 P/E ratio. The Firm delivers its solutions as a service through all the Internet browsers and on mobile devices.

According to Zacks Investment Research, “Salesforce.com is the market and technology leader in on-demand business services. The company’s Salesforce suite of on-demand CRM applications allows customers to manage and share all of their sales, support, marketing and partner information on-demand. The Salesforce Platform, the world’s first on- demand platform, enables customers, developers and partners to build powerful new on-demand applications that extend beyond CRM to deliver the benefits of multi-tenancy and The Business Web across the enterprise. The Salesforce Platform allows applications to be easily shared, exchanged and installed with a few simple clicks via salesforce.com’s AppExchange directory. Customers can also take advantage of Successforce, salesforce.com’s world-class training, support, consulting and best practices offerings.”

Analysts await salesforce.com, inc. (NYSE:CRM) to report earnings on February, 22. They expect $0.06 EPS, up 500.00% or $0.05 from last year’s $0.01 per share. CRM’s profit will be $41.48 million for 308.13 P/E if the $0.06 EPS becomes a reality. After $0.03 actual EPS reported by salesforce.com, inc. for the previous quarter, Wall Street now forecasts 100.00% EPS growth.

More notable recent salesforce.com, inc. (NYSE:CRM) news were published by: Profitconfidential.com which released: “Salesforce.com, inc.: Somethings Not Right with CRM Stock” on November 23, 2016, also Profitconfidential.com with their article: “CRM Stock: Expect a Muted Quarter from Salesforce.com, Inc.” published on November 17, 2016, Marketwatch.com published: “Salesforce earnings: A waiting period before a fourth-quarter turnaround” on November 15, 2016. More interesting news about salesforce.com, inc. (NYSE:CRM) were released by: Nasdaq.com and their article: “Salesforce.com Inc Q3 Earnings Advance 22%” published on November 17, 2016 as well as Streetinsider.com‘s news article titled: “Form 4 SALESFORCE COM INC For: Nov 22 Filed by: Allanson Joe” with publication date: November 24, 2016.

CRM Company Profile

salesforce.com, inc., incorporated on February 3, 1999, is a well-known provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services. The Firm delivers its solutions as a service through all the Internet browsers and on mobile devices. It sells to businesses of all sizes and in a range of industries across the world on a subscription basis, primarily through its direct sales and also indirectly through partners.

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