Dash Acquisitions Inc. lifted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,521 shares of the CRM provider's stock after purchasing an additional 1,525 shares during the period. Salesforce accounts for about 4.9% of Dash Acquisitions Inc.'s investment portfolio, making the stock its 8th biggest holding. Dash Acquisitions Inc.'s holdings in Salesforce were worth $21,785,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently modified their holdings of CRM. Nvest Financial LLC grew its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD boosted its position in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after buying an additional 31 shares during the period. Sachetta LLC boosted its position in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after buying an additional 32 shares during the period. Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider's stock worth $1,860,000 after buying an additional 33 shares during the period. Institutional investors own 80.43% of the company's stock.
Salesforce Stock Performance
Salesforce stock traded down $8.89 during mid-day trading on Friday, hitting $309.54. The company had a trading volume of 5,678,163 shares, compared to its average volume of 6,179,119. The company has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a P/E/G ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company's fifty day moving average is $334.23 and its 200-day moving average is $304.76. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $9.35 billion. During the same period in the previous year, the firm posted $1.62 EPS. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.
Salesforce Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce's dividend payout ratio (DPR) is currently 26.32%.
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 that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,833 shares of company stock valued at $381,389,136 over the last quarter. 3.20% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on CRM. Piper Sandler reiterated an "overweight" rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Stifel Nicolaus raised their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Oppenheimer reaffirmed an "outperform" rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $375.53.
Get Our Latest Analysis on Salesforce
Salesforce Profile
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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.
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