Bangor Savings Bank Has $2.63 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Bangor Savings Bank decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% in the fourth quarter, according to the company in its most recent disclosure 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Salesforce by 421.9% during the 2nd quarter. Acadian Asset Management LLC now owns 165,858 shares of the CRM provider’s stock worth $42,633,000 after purchasing an additional 134,079 shares during the last quarter. Adapt Wealth Advisors LLC lifted its position in shares of Salesforce by 34.6% in the second quarter. Adapt Wealth Advisors LLC now owns 1,263 shares of the CRM provider’s stock worth $325,000 after buying an additional 325 shares during the last quarter. HCR Wealth Advisors boosted its stake in shares of Salesforce by 5.0% during the 2nd quarter. HCR Wealth Advisors now owns 1,238 shares of the CRM provider’s stock worth $318,000 after acquiring an additional 59 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Salesforce by 22.4% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 15,891 shares of the CRM provider’s stock valued at $4,086,000 after acquiring an additional 2,912 shares during the last quarter. Finally, Prudential PLC raised its stake in shares of Salesforce by 14.3% in the 2nd quarter. Prudential PLC now owns 97,536 shares of the CRM provider’s stock valued at $25,077,000 after acquiring an additional 12,227 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.9 %

Shares of CRM opened at $329.82 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $315.64 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 3.21 and a beta of 1.30. The stock has a fifty day moving average price of $333.53 and a two-hundred day moving average price of $287.43. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the firm earned $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRM. Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Bank of America upped their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company increased their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $375.39.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction 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. The trade was a 3.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 6,161 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the transaction, the chief operating officer now directly owns 969 shares in the company, valued at $280,767.75. This trade represents a 86.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Company 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.