New Hampshire Trust Buys 271 Shares of Salesforce, Inc. (NYSE:CRM)

New Hampshire Trust increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,996 shares of the CRM provider’s stock after buying an additional 271 shares during the quarter. New Hampshire Trust’s holdings in Salesforce were worth $3,168,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Beese Fulmer Investment Management Inc. grew its holdings in Salesforce by 4.9% during the second quarter. Beese Fulmer Investment Management Inc. now owns 26,017 shares of the CRM provider’s stock worth $5,496,000 after buying an additional 1,215 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in Salesforce by 26.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 1,473 shares of the CRM provider’s stock worth $311,000 after purchasing an additional 309 shares during the last quarter. Norway Savings Bank boosted its position in Salesforce by 12.2% in the second quarter. Norway Savings Bank now owns 7,426 shares of the CRM provider’s stock worth $1,569,000 after purchasing an additional 810 shares during the last quarter. Brookstone Capital Management boosted its position in Salesforce by 13.0% in the second quarter. Brookstone Capital Management now owns 41,003 shares of the CRM provider’s stock worth $8,594,000 after purchasing an additional 4,724 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in Salesforce by 52.3% in the second quarter. Gradient Investments LLC now owns 2,446 shares of the CRM provider’s stock worth $517,000 after purchasing an additional 840 shares during the last quarter. Institutional investors own 77.52% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. UBS Group boosted their price objective on Salesforce from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 31st. Oppenheimer boosted their price objective on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Stifel Nicolaus boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. Wedbush boosted their price objective on Salesforce from $240.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Finally, HSBC initiated coverage on Salesforce in a research report on Friday. They set a “buy” rating and a $267.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $240.59.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 78,870 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $210.94, for a total value of $16,636,837.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, COO Brian Millham sold 78,870 shares of Salesforce stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $210.94, for a total value of $16,636,837.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 164 shares of Salesforce stock in a transaction on Monday, July 24th. The stock was sold at an average price of $225.05, for a total value of $36,908.20. Following the completion of the sale, the chief accounting officer now directly owns 2,230 shares of the company’s stock, valued at approximately $501,861.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 698,191 shares of company stock worth $152,203,804. 3.70% of the stock is currently owned by company insiders.

Salesforce Trading Down 1.9 %

CRM traded down $4.17 on Friday, hitting $214.61. 9,939,044 shares of the company were exchanged, compared to its average volume of 7,037,322. Salesforce, Inc. has a 12 month low of $126.34 and a 12 month high of $238.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day simple moving average of $218.24 and a two-hundred day simple moving average of $206.41. The stock has a market capitalization of $208.82 billion, a PE ratio of 134.97, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.22. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The business had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter last year, the business posted $0.52 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Salesforce 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 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.