Enterprise Bank & Trust Co Lowers Stock Position in Salesforce, Inc. (NYSE:CRM)

Enterprise Bank & Trust Co reduced its stake in Salesforce, Inc. (NYSE:CRMGet Rating) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,359 shares of the CRM provider’s stock after selling 841 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Salesforce were worth $2,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vectors Research Management LLC raised its stake in Salesforce by 128.9% in the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in Salesforce during the fourth quarter valued at approximately $27,000. Financial Enhancement Group LLC grew its position in Salesforce by 589.5% during the fourth quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 112 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Salesforce during the fourth quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Salesforce during the fourth quarter valued at approximately $42,000. 77.75% of the stock is currently owned by institutional investors and hedge funds.

NYSE CRM opened at $167.45 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $166.61 billion, a P/E ratio of 162.57, a P/E/G ratio of 4.57 and a beta of 1.16. Salesforce, Inc. has a one year low of $154.55 and a one year high of $311.75. The stock has a 50 day moving average price of $172.00 and a 200-day moving average price of $205.29.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.38 billion. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. Salesforce’s revenue was up 24.3% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 2.18 EPS for the current fiscal year.

Several research analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Salesforce from $360.00 to $291.00 in a research note on Monday, May 16th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Salesforce from $300.00 to $260.00 in a research note on Wednesday, June 1st. Wells Fargo & Company lifted their target price on shares of Salesforce from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 1st. Mizuho decreased their target price on shares of Salesforce from $295.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 18th. Finally, Loop Capital decreased their target price on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating on the stock in a research note on Thursday, June 2nd. Four investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $272.50.

In other news, CFO Amy E. Weaver sold 1,556 shares of the firm’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $188.16, for a total transaction of $292,776.96. Following the transaction, the chief financial officer now owns 28,571 shares in the company, valued at $5,375,919.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $167.52, for a total value of $385,296.00. Following the transaction, the chief executive officer now owns 28,761,368 shares in the company, valued at approximately $4,818,104,367.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,840 shares of company stock valued at $20,113,549. 4.10% of the stock is owned by corporate insiders.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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