Salesforce, Inc. (NYSE:CRM) Holdings Raised by DLK Investment Management LLC

DLK Investment Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,065 shares of the CRM provider’s stock after acquiring an additional 63 shares during the period. DLK Investment Management LLC’s holdings in Salesforce were worth $356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Salesforce by 14.5% in the second quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock valued at $24,734,000 after acquiring an additional 12,193 shares during the last quarter. Kowal Investment Group LLC bought a new stake in Salesforce in the second quarter worth $215,000. Profund Advisors LLC increased its position in Salesforce by 5.2% during the second quarter. Profund Advisors LLC now owns 41,754 shares of the CRM provider’s stock worth $10,735,000 after buying an additional 2,053 shares during the last quarter. ProShare Advisors LLC raised its holdings in Salesforce by 8.7% during the second quarter. ProShare Advisors LLC now owns 296,331 shares of the CRM provider’s stock valued at $76,187,000 after buying an additional 23,750 shares in the last quarter. Finally, Holderness Investments Co. lifted its position in shares of Salesforce by 22.1% in the second quarter. Holderness Investments Co. now owns 2,373 shares of the CRM provider’s stock worth $610,000 after buying an additional 430 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC increased their price objective on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets raised their target price on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Trading Up 1.5 %

NYSE:CRM opened at $324.77 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day simple moving average is $337.31 and its 200-day simple moving average is $291.80. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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 firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.48 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. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at $34,229,213.48. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the firm’s 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 sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Corporate insiders own 3.20% of the company’s stock.

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.