Massmutual Trust Co. FSB ADV Sells 5,514 Shares of Salesforce, Inc. (NYSE:CRM)


Massmutual Trust Co. FSB ADV lowered its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 18.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,908 shares of the CRM provider’s stock after selling 5,514 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Salesforce were worth $7,502,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CRM. Marks Group Wealth Management Inc lifted its position in Salesforce by 0.7% during the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after buying an additional 257 shares during the period. Spartan Planning & Wealth Management lifted its position in Salesforce by 66.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after buying an additional 625 shares during the period. Roman Butler Fullerton & Co. lifted its position in Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after buying an additional 105 shares during the period. Parnassus Investments LLC lifted its position in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after buying an additional 18,397 shares during the period. Finally, TD Asset Management Inc lifted its position in Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after buying an additional 194,224 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 2,890 shares of Salesforce stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $893,934.80. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $18,687,877.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, insider Srinivas Tallapragada sold 2,890 shares of Salesforce stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $893,934.80. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $18,687,877.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 600,470 shares of company stock valued at $167,913,238 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM traded up $9.86 during mid-day trading on Thursday, hitting $241.67. The company had a trading volume of 5,898,610 shares, compared to its average volume of 6,759,799. The stock has a market cap of $234.18 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 2.03 and a beta of 1.25. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $264.60 and its two-hundred day simple moving average is $276.60.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRM shares. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Macquarie cut their price objective on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Jefferies Financial Group cut their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Citigroup cut their price objective on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Finally, Barclays cut their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $292.79.

Read Our Latest Stock Analysis on CRM

About Salesforce

(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.

See Also

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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