Salesforce, Inc. (NYSE:CRM) Shares Acquired by Delta Financial Advisors LLC

Delta Financial Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 44.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,233 shares of the CRM provider’s stock after acquiring an additional 1,000 shares during the period. Delta Financial Advisors LLC’s holdings in Salesforce were worth $851,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CRM. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce during the 4th quarter worth about $26,000. Pacifica Partners Inc. raised its position in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $34,000. GHP Investment Advisors Inc. raised its position in shares of Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares during the last quarter. Finally, Live Oak Investment Partners acquired a new position in shares of Salesforce during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Brian Millham sold 293,965 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $280.00, for a total value of $82,310,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. Insiders sold 907,149 shares of company stock worth $262,952,448 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRM. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $290.00 to $350.00 in a research note on Thursday, December 21st. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday. Finally, Evercore ISI upped their price objective on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Stock Performance

Salesforce stock traded down $4.36 during midday trading on Thursday, hitting $271.96. 1,952,498 shares of the company’s stock were exchanged, compared to its average volume of 5,654,523. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $263.80 billion, a price-to-earnings ratio of 65.28, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The firm’s 50 day simple moving average is $298.10 and its 200 day simple moving average is $260.89.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Equities research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

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.