Delta Financial Group Inc. Sells 71 Shares of Salesforce, Inc. (NYSE:CRM)

Delta Financial Group Inc. trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,062 shares of the CRM provider’s stock after selling 71 shares during the period. Delta Financial Group Inc.’s holdings in Salesforce were worth $355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Veritas Asset Management LLP bought a new position in shares of Salesforce during the third quarter valued at about $733,805,000. Jennison Associates LLC raised its stake in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the last quarter. Swedbank AB raised its stake in shares of Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. KBC Group NV raised its stake in Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after buying an additional 1,032,068 shares in the last quarter. Finally, State Street Corp raised its stake in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,102,114 shares of company stock worth $381,142,656. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 2.8 %

Shares of CRM stock opened at $309.54 on Monday. The company has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s fifty day moving average price is $333.34 and its 200-day moving average price is $306.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRM. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada upped their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler set a $405.00 price objective on Salesforce in a research report on Tuesday, January 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $375.53.

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.