Massmutual Trust Co. FSB ADV Lowers Position in Salesforce, Inc. (NYSE:CRM)

Massmutual Trust Co. FSB ADV decreased its position in Salesforce, Inc. (NYSE:CRMFree Report) by 18.1% during the 1st quarter, Holdings Channel reports. The fund owned 24,908 shares of the CRM provider’s stock after selling 5,514 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Salesforce were worth $7,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now directly owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 600,470 shares of company stock valued at $167,913,238. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock traded up $6.73 during trading hours on Thursday, reaching $238.54. The stock had a trading volume of 2,395,544 shares, compared to its average volume of 6,721,582. 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 twelve month low of $193.68 and a twelve month high of $318.71. The firm has a 50-day simple moving average of $264.60 and a 200-day simple moving average of $276.60. The firm has a market capitalization of $231.15 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 2.03 and a beta of 1.25.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the company earned $1.15 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Canaccord Genuity Group cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Mizuho cut their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Barclays cut their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Truist Financial reissued a “buy” rating and issued a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Read Our Latest Analysis on CRM

Salesforce 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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