Delta Investment Management LLC Sells 7,962 Shares of Salesforce, Inc. (NYSE:CRM)

Delta Investment Management LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 77.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,263 shares of the CRM provider’s stock after selling 7,962 shares during the quarter. Delta Investment Management LLC’s holdings in Salesforce were worth $756,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC raised its position in shares of Salesforce by 3.6% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock worth $818,000 after acquiring an additional 84 shares during the last quarter. Tallon Kerry Patrick bought a new stake in shares of Salesforce during the 4th quarter valued at $236,000. Ameritas Advisory Services LLC boosted its position in shares of Salesforce by 0.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 7,588 shares of the CRM provider’s stock worth $2,537,000 after purchasing an additional 64 shares during the last quarter. Oak Ridge Investments LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $683,000. Finally, Artemis Investment Management LLP bought a new stake in Salesforce in the fourth quarter valued at about $15,117,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares of the company’s stock, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,306 shares of company stock worth $12,841,368 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $287.03 on Tuesday. The firm has a 50-day moving average price of $268.15 and a two-hundred day moving average price of $307.16. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $275.95 billion, a P/E ratio of 47.21, a P/E/G ratio of 2.58 and a beta of 1.42. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.59%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRM. Robert W. Baird decreased their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Cantor Fitzgerald began coverage on Salesforce in a research note on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price objective on the stock. Mizuho lowered their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group reduced their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $352.62.

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.