Delta Financial Advisors LLC Purchases 2,035 Shares of Salesforce, Inc. (NYSE:CRM)

Delta Financial Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 52.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,906 shares of the CRM provider’s stock after acquiring an additional 2,035 shares during the period. Delta Financial Advisors LLC’s holdings in Salesforce were worth $1,974,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Longbow Finance SA grew its holdings in shares of Salesforce by 5.0% in the fourth quarter. Longbow Finance SA now owns 22,986 shares of the CRM provider’s stock worth $7,685,000 after acquiring an additional 1,089 shares during the period. Illinois Municipal Retirement Fund lifted its position in Salesforce by 2.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 51,286 shares of the CRM provider’s stock valued at $17,146,000 after purchasing an additional 1,354 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Salesforce by 21.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 677,841 shares of the CRM provider’s stock valued at $226,623,000 after purchasing an additional 120,428 shares in the last quarter. EdgeRock Capital LLC lifted its position in Salesforce by 16.5% during the fourth quarter. EdgeRock Capital LLC now owns 1,102 shares of the CRM provider’s stock valued at $368,000 after purchasing an additional 156 shares in the last quarter. Finally, Transcendent Capital Group LLC lifted its position in Salesforce by 525.9% during the fourth quarter. Transcendent Capital Group LLC now owns 1,496 shares of the CRM provider’s stock valued at $500,000 after purchasing an additional 1,257 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $374.47.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,102,572 shares of company stock worth $381,283,706. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $306.02 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $292.86 billion, a P/E ratio of 50.33, a PEG ratio of 2.58 and a beta of 1.31. The firm has a fifty day moving average price of $331.46 and a 200 day moving average price of $306.97.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.