Delta Investment Management LLC Acquires 170 Shares of Salesforce, Inc. (NYSE:CRM)

Delta Investment Management LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,019 shares of the CRM provider’s stock after purchasing an additional 170 shares during the quarter. Salesforce comprises 0.7% of Delta Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Delta Investment Management LLC’s holdings in Salesforce were worth $2,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Graypoint LLC raised its stake in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares during the period. Opes Wealth Management LLC increased its stake in Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares during the last quarter. Prentice Wealth Management LLC increased its stake in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 38 shares during the last quarter. MV Capital Management Inc. increased its stake in Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after acquiring an additional 39 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. increased its stake in Salesforce by 0.4% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 8,901 shares of the CRM provider’s stock worth $2,342,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $274.29 on Friday. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The stock has a market capitalization of $266.06 billion, a price-to-earnings ratio of 65.31, a P/E/G ratio of 2.11 and a beta of 1.28. The stock has a fifty day simple moving average of $295.97 and a two-hundred day simple moving average of $264.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s payout ratio is 9.52%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. UBS Group lifted their price objective on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Insider Transactions at Salesforce

In other news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $283.12, for a total value of $2,831,200.00. Following the sale, the insider now owns 60,416 shares in the company, valued at $17,104,977.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $283.12, for a total value of $2,831,200.00. Following the transaction, the insider now owns 60,416 shares in the company, valued at $17,104,977.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the completion of the transaction, the chief executive officer now owns 12,782,327 shares in the company, valued at approximately $3,536,230,764.55. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock worth $182,177,918 over the last quarter. 3.70% of the stock is currently owned by insiders.

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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.