Company shares are trading at $102.34 marginally over the 50 day moving average which is $96.32 and which is significantly higher than the 200 day moving average of $91.17. The 50 day moving average went up $6.02 or +6.25% and the 200 day average moved up $11.17. 4,945K shares changed hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 50.20% over the normal average daily volume.
Investors are a little more bearish on the company as implied by the increase in short interest. The firm realized a rise in short interest between September 29, 2017 and October 13, 2017 of 6.56%. Short shares grew from 16,519,333 to 17,602,323 over that period. The days to cover increased to 6.0 and the percentage of shorted shares was 0.02% on October 13.
There has been some selling insider activity on Salesforce.com Inc (NYSE:CRM) recently. Co-Founder and CTO Parker Harris sold 8,026 shares at an average price of $102.02 on Tue the 31st. Harris now owns $1,146,195 of stock per an SEC filing yesterday. Vice Chairman, Pres. and COO Keith Block disclosed the sale of 10,000 shares of CRM stock. The shares were purchased at an average price of $101.57. Block now owns $1,437,622 of the stock according to the SEC filing.
Maria Martinez, Pres., Sales & Cust. Success sold $94,865 worth of shares at an average price of $100.92 on October 27th. The Pres., Sales & Cust. Success now owns $1,817,569 of the stock as reported to the SEC.
The following firms have recently changed their position in CRM. As of the end of the quarter Cornerstone Advisors, Inc. had acquired 184 shares growing its stake by 4.8%. The value of the investment in CRM went from $330,000 to $373,000 increasing 13.0% quarter over quarter. Tokio Marine Asset Management Co Ltd divested its position by selling 1,644 shares a decrease of 22.3% as of 09/30/2017. Tokio Marine Asset Management Co Ltd claims 5,716 shares with a value of $534,000. The value of the position overall is down by 16.2%.
As of quarter end Edgestream Partners, L.p. had sold a total of 12,478 shares trimming its holdings by 56.3%. The value in dollars decreased from $1,919,000 to $904,000 a change of $1,015,000 since the last quarter. Andra Ap-fonden added to its holdings by buying 10,400 shares an increase of 61.2%. Andra Ap-fonden owns 27,400 shares worth $2,560,000. The total value of its holdings increased 73.9%.
On August 23 Citigroup left the stock rating at “Outperform” but moved up the price target to $115.00 from $89.00. August 23 investment analysts at Credit Suisse held the stock rating at “Buy” but raised the price target from $89.00 to $105.00.
August 23 investment analysts at Deutsche Bank kept the stock rating at “Buy” and moved up the price target to $110.00 from $89.00. On August 23 Canaccord Genuity maintained a company rating of “Buy” but raised the price expectation from $89.00 to $110.00.
On August 23 Barclays held the company rating at “Buy” and raised the price expectation from $89.00 to $110.00. On October 31, 2017 Guggenheim initiated coverage on CRM giving it an initial rating of “”.
As of the latest earnings report the EPS was $-0.11 and is estimated to be $1.32 for the current year with 718,700,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.34 with next year’s EPS projected to be $1.70.
Salesforce.com, inc., incorporated February 3, 1999, is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Business’s service offerings are configured and integrated with other platforms and enterprise applications. The Company delivers its service offerings via Internet browsers and on mobile devices. Its Customer Success Platform is a portfolio of service offerings providing sales force automation, customer service and support, marketing automation, digital commerce, community management, analytics, application development, IoT integration, collaborative productivity tools and its professional cloud services..