DMKC Advisory Services LLC Buys Shares of 652 Salesforce, Inc. (NYSE:CRM)

DMKC Advisory Services LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 652 shares of the CRM provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Veritas Asset Management LLP bought a new stake in Salesforce during the third quarter valued at approximately $733,805,000. Jennison Associates LLC boosted its stake in shares of Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares during the last quarter. Swedbank AB boosted its stake in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. KBC Group NV grew its position in shares of Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the period. Finally, State Street Corp increased its stake in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,102,572 shares of company stock worth $381,283,706 in the last quarter. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research note on Monday, January 6th. Piper Sandler set a $405.00 target price on shares of Salesforce in a report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $374.47.

Salesforce Stock Down 0.7 %

NYSE CRM opened at $306.02 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market capitalization of $292.86 billion, a price-to-earnings ratio of 50.33, a PEG ratio of 2.58 and a beta of 1.31. The company has a fifty day moving average of $331.46 and a two-hundred day moving average of $306.97.

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

Salesforce Announces Dividend

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

About Salesforce

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.