First Bancorp Inc ME Sells 38 Shares of Salesforce, Inc. (NYSE:CRM)

First Bancorp Inc ME trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,124 shares of the CRM provider’s stock after selling 38 shares during the period. First Bancorp Inc ME’s holdings in Salesforce were worth $855,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prentice Wealth Management LLC lifted its stake in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 37 shares in the last quarter. Fox Hill Wealth Management lifted its stake in Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Salesforce by 0.4% during the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 38 shares during the last quarter. Finally, CRA Financial Services LLC increased its position in shares of Salesforce by 3.4% during the 3rd quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock valued at $318,000 after purchasing an additional 38 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Citigroup raised their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Oppenheimer raised their target price on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $311.66.

Salesforce Trading Up 0.6 %

CRM stock traded up $1.83 during midday trading on Friday, hitting $292.94. The company had a trading volume of 3,087,902 shares, compared to its average volume of 6,414,292. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock’s 50 day moving average price is $266.65 and its 200 day moving average price is $263.77. The stock has a market cap of $283.86 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,612 shares of company stock valued at $21,429,961. 3.20% of the stock is currently owned by corporate insiders.

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.