Bar Harbor Wealth Management Has $4.90 Million Stake in Salesforce, Inc. (NYSE:CRM)

Bar Harbor Wealth Management increased its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 4.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,666 shares of the CRM provider’s stock after purchasing an additional 627 shares during the quarter. Bar Harbor Wealth Management’s holdings in Salesforce were worth $4,903,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CRM. GHP Investment Advisors Inc. raised its holdings in Salesforce by 38.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock worth $53,000 after acquiring an additional 57 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Salesforce by 5.6% in the second quarter. Brown Brothers Harriman & Co. now owns 21,263 shares of the CRM provider’s stock valued at $5,467,000 after purchasing an additional 1,120 shares during the last quarter. Angeles Investment Advisors LLC increased its stake in shares of Salesforce by 8.2% in the second quarter. Angeles Investment Advisors LLC now owns 2,773 shares of the CRM provider’s stock worth $713,000 after purchasing an additional 211 shares during the period. Capital Wealth Planning LLC lifted its position in shares of Salesforce by 3.0% during the 2nd quarter. Capital Wealth Planning LLC now owns 10,743 shares of the CRM provider’s stock worth $2,762,000 after purchasing an additional 312 shares during the last quarter. Finally, Financial Perspectives Inc boosted its stake in Salesforce by 197.3% during the 2nd quarter. Financial Perspectives Inc now owns 223 shares of the CRM provider’s stock valued at $57,000 after purchasing an additional 148 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.5 %

Shares of CRM opened at $319.39 on Tuesday. The firm has a market capitalization of $305.66 billion, a price-to-earnings ratio of 52.53, a PEG ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. 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 business’s fifty day moving average price is $336.25 and its two-hundred day moving average price is $290.19.

Salesforce (NYSE:CRMGet Free Report) 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Bank of America upped their price target on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upped their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $376.05.

Get Our Latest Stock Analysis on Salesforce

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,177,617 shares of company stock valued at $403,542,975. 3.20% of the stock is currently owned by insiders.

Salesforce Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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