Bank of New Hampshire Trims Position in Salesforce, Inc. (NYSE:CRM)

Bank of New Hampshire reduced its position in Salesforce, Inc. (NYSE:CRM – Get Rating) by 17.9% in the 4th quarter, Holdings Channel reports. The fund owned 801 shares of the CRM provider’s stock after selling 175 shares during the period. Bank of New Hampshire’s holdings in Salesforce were worth $106,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Parkside Advisors LLC boosted its stake in Salesforce by 5.4% in the 4th quarter. Parkside Advisors LLC now owns 2,423 shares of the CRM provider’s stock worth $321,000 after buying an additional 124 shares during the last quarter. Brookstone Capital Management boosted its position in shares of Salesforce by 15.7% in the fourth quarter. Brookstone Capital Management now owns 25,658 shares of the CRM provider’s stock worth $3,605,000 after acquiring an additional 3,483 shares during the last quarter. CGN Advisors LLC grew its holdings in Salesforce by 80.0% in the fourth quarter. CGN Advisors LLC now owns 13,055 shares of the CRM provider’s stock valued at $1,731,000 after purchasing an additional 5,804 shares during the period. MinichMacGregor Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth approximately $31,000. Finally, Yousif Capital Management LLC raised its stake in Salesforce by 5.3% during the fourth quarter. Yousif Capital Management LLC now owns 147,236 shares of the CRM provider’s stock worth $19,522,000 after purchasing an additional 7,459 shares during the period. 75.83% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 1.3 %

Salesforce stock opened at $184.85 on Friday. Salesforce, Inc. has a 52-week low of $126.34 and a 52-week high of $222.15. The firm has a market capitalization of $184.85 billion, a price-to-earnings ratio of 880.28, a PEG ratio of 2.24 and a beta of 1.21. The firm has a 50-day moving average price of $166.43 and a two-hundred day moving average price of $153.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRM – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.32. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $7.99 billion. Salesforce had a net margin of 0.66% and a return on equity of 4.48%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 4.88 earnings per share for the current year.

Salesforce announced that its board has authorized a stock repurchase program on Wednesday, March 1st that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the CRM provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

CRM has been the subject of several research reports. Wolfe Research cut shares of Salesforce from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 1st. Canaccord Genuity Group upped their price target on Salesforce from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Piper Sandler lifted their price objective on Salesforce from $171.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, March 2nd. StockNews.com started coverage on shares of Salesforce in a research report on Thursday. They set a “buy” rating for the company. Finally, Wedbush lifted their price target on shares of Salesforce from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $211.24.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 924 shares of the business’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $128.55, for a total transaction of $118,780.20. Following the sale, the chief financial officer now owns 32,807 shares of the company’s stock, valued at $4,217,339.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Parker Harris sold 7,500 shares of Salesforce stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $188.18, for a total value of $1,411,350.00. Following the transaction, the insider now owns 96,795 shares of the company’s stock, valued at approximately $18,214,883.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 924 shares of the business’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $128.55, for a total transaction of $118,780.20. Following the completion of the sale, the chief financial officer now owns 32,807 shares in the company, valued at $4,217,339.85. The disclosure for this sale can be found here. In the last three months, insiders sold 39,268 shares of company stock valued at $6,641,547. Company insiders own 3.60% of the company’s stock.

About Salesforce

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.