First Bancorp Inc ME Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

First Bancorp Inc ME trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,234 shares of the CRM provider’s stock after selling 106 shares during the period. First Bancorp Inc ME’s holdings in Salesforce were worth $974,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. BKM Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $34,000. Finally, Pacifica Partners Inc. grew its position in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the transaction, the insider now owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders sold 541,787 shares of company stock worth $149,773,683 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.6 %

NYSE CRM traded up $1.39 during midday trading on Wednesday, hitting $243.15. 4,150,449 shares of the company traded hands, compared to its average volume of 6,879,445. 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 company has a market cap of $235.61 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The company’s 50-day simple moving average is $261.10 and its 200-day simple moving average is $276.56. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRM shares. Argus lifted their price target on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Truist Financial reaffirmed a “buy” rating and issued a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. Barclays decreased their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Macquarie decreased their target price on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Finally, Bank of America boosted their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

About Salesforce

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.