Bar Harbor Wealth Management Has $3.84 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Bar Harbor Wealth Management decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,039 shares of the CRM provider’s stock after selling 145 shares during the quarter. Bar Harbor Wealth Management’s holdings in Salesforce were worth $3,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. XN LP lifted its position in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. increased its position in Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after buying an additional 2,589 shares during the period. M&G Plc bought a new stake in shares of Salesforce in the first quarter valued at approximately $2,178,000. First Foundation Advisors lifted its stake in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares during the period. Finally, St. Johns Investment Management Company LLC boosted its holdings in Salesforce by 4.1% during the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. 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 worth $21,429,961. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $291.12 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $282.10 billion, a PE ratio of 52.36, a PEG ratio of 2.61 and a beta of 1.30. The firm has a 50 day moving average of $265.84 and a 200-day moving average of $263.84. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. BMO Capital Markets boosted their target price on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. UBS Group increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

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.