DLK Investment Management LLC Purchases 63 Shares of Salesforce, Inc. (NYSE:CRM)

DLK Investment Management LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,065 shares of the CRM provider’s stock after buying an additional 63 shares during the quarter. DLK Investment Management LLC’s holdings in Salesforce were worth $356,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Salesforce by 14.5% during the second quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock worth $24,734,000 after acquiring an additional 12,193 shares during the period. Kowal Investment Group LLC acquired a new position in shares of Salesforce during the 2nd quarter worth approximately $215,000. Profund Advisors LLC increased its holdings in shares of 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 purchasing an additional 2,053 shares during the period. ProShare Advisors LLC raised its position in shares of Salesforce by 8.7% in 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. boosted its stake 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 valued at $610,000 after buying an additional 430 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce 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 completion of the sale, the insider now owns 118,514 shares in the company, valued at $34,229,213.48. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety 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.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company raised their price objective on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays upped their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Price Performance

Salesforce stock opened at $324.77 on Monday. The stock’s 50 day moving average is $337.31 and its 200 day moving average is $291.80. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. 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 issued 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s 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.