First Financial Corp IN Cuts Stock Position in Salesforce, Inc. (NYSE:CRM)

First Financial Corp IN lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,010 shares of the CRM provider’s stock after selling 497 shares during the period. First Financial Corp IN’s holdings in Salesforce were worth $605,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the fourth quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the 4th quarter valued at $31,000. BKM Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at $34,000. Finally, Pacifica Partners Inc. increased its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $350.00 target price on shares of Salesforce in a research report on Friday, May 24th. Evercore ISI reduced their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. TD Cowen decreased their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a report on Thursday, May 30th. KeyCorp initiated coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Citigroup reduced their target price on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 541,787 shares of company stock valued at $149,773,683 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.1 %

Shares of NYSE CRM traded down $0.26 during midday trading on Wednesday, hitting $241.50. The company’s stock had a trading volume of 1,705,985 shares, compared to its average volume of 6,868,559. 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 has a market capitalization of $234.01 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The business’s fifty day simple moving average is $261.10 and its two-hundred day simple moving average is $276.56. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. On average, equities analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

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.