Delta Financial Advisors LLC Purchases 1,000 Shares of Salesforce, Inc. (NYSE:CRM)

Delta Financial Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 44.8% during the fourth quarter, HoldingsChannel reports. The firm owned 3,233 shares of the CRM provider’s stock after buying an additional 1,000 shares during the quarter. Delta Financial Advisors LLC’s holdings in Salesforce were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Graypoint LLC raised its position in shares of Salesforce by 0.3% in the fourth 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. Prentice Wealth Management LLC raised its position in shares of Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the period. MV Capital Management Inc. increased its position in Salesforce by 3.9% during the fourth 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 period. Legal Advantage Investments Inc. increased its position in Salesforce by 0.7% during the fourth quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock worth $1,466,000 after acquiring an additional 40 shares during the period. Finally, Mayflower Financial Advisors LLC increased its position in Salesforce by 1.2% during the fourth quarter. Mayflower Financial Advisors LLC now owns 3,411 shares of the CRM provider’s stock worth $898,000 after acquiring an additional 41 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Bank of America boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Argus boosted their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Wells Fargo & Company boosted their price target on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Finally, Piper Sandler reissued a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Trading Down 1.6 %

Shares of CRM stock traded down $4.36 on Thursday, reaching $271.96. The company had a trading volume of 1,952,498 shares, compared to its average volume of 5,654,523. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $263.80 billion, a PE ratio of 65.28, a PEG ratio of 2.13 and a beta of 1.28. The company has a 50-day moving average of $298.10 and a 200-day moving average of $260.89. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71.

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

Salesforce Announces Dividend

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

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the completion of the sale, the chief financial officer now directly owns 45,231 shares of the company’s stock, valued at approximately $12,428,121.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 5,864 shares of Salesforce stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the transaction, the chief financial officer now directly owns 45,231 shares of the company’s stock, valued at $12,428,121.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 3,910 shares of Salesforce stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,074,350.70. Following the completion of the transaction, the insider now directly owns 19,463 shares in the company, valued at $5,347,848.51. The disclosure for this sale can be found here. In the last three months, insiders sold 907,149 shares of company stock valued at $262,952,448. 3.70% of the stock is owned by corporate 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.