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

Enterprise Bank & Trust Co lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,878 shares of the CRM provider’s stock after selling 454 shares during the quarter. Salesforce comprises approximately 1.2% of Enterprise Bank & Trust Co’s portfolio, making the stock its 20th biggest position. Enterprise Bank & Trust Co’s holdings in Salesforce were worth $3,637,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter valued at $27,000. Clear Investment Research LLC grew its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Finally, Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.0 %

Shares of CRM stock traded up $0.03 during mid-day trading on Monday, hitting $317.88. The stock had a trading volume of 2,383,922 shares, compared to its average volume of 4,556,487. The firm has a market capitalization of $304.21 billion, a P/E ratio of 52.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm’s 50-day moving average is $335.82 and its two-hundred day moving average is $289.73.

Salesforce (NYSE:CRM) last posted its earnings results 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 net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Oppenheimer restated an “outperform” rating and set a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 target price on shares of Salesforce in a report on Wednesday, December 18th. DA Davidson lifted their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. Following the transaction, the chief operating officer now directly owns 969 shares of the company’s stock, valued at approximately $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Company Profile

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.