Salesforce, Inc. (NYSE:CRM) Shares Sold by Bangor Savings Bank

Bangor Savings Bank trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,862 shares of the CRM provider’s stock after selling 35 shares during the period. Bangor Savings Bank’s holdings in Salesforce were worth $2,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter valued at approximately $27,000. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the second quarter valued at about $33,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Finally, Annapolis Financial Services LLC raised its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRM. UBS Group increased their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets increased their price target on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.39.

Salesforce Stock Down 0.9 %

CRM stock opened at $329.82 on Tuesday. The firm has a market cap of $315.64 billion, a PE ratio of 54.25, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $333.53 and a 200 day simple moving average of $287.43.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,181,817 shares of company stock worth $404,760,429 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.