Salesforce Inc. $CRM Shares Sold by Delta Investment Management LLC

Delta Investment Management LLC trimmed its position in Salesforce Inc. (NYSE:CRM) by 69.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,393 shares of the CRM provider’s stock after selling 3,157 shares during the period. Delta Investment Management LLC’s holdings in Salesforce were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Marquette Asset Management LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at approximately $26,000. Board of the Pension Protection Fund acquired a new position in Salesforce during the 4th quarter valued at approximately $26,000. Key Capital Management INC acquired a new position in Salesforce during the 4th quarter worth $26,000. Legacy Bridge LLC acquired a new position in Salesforce during the 4th quarter worth $27,000. Finally, Texas Capital Bancshares Inc TX acquired a new position in Salesforce during the 3rd quarter worth $28,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRM. Barclays cut their price objective on Salesforce from $265.00 to $252.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 26th. Truist Financial set a $280.00 price objective on Salesforce in a research report on Thursday, February 26th. KeyCorp decreased their price objective on Salesforce from $400.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $375.00 target price on shares of Salesforce in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $279.18.

Salesforce Trading Down 2.6%

Shares of CRM opened at $176.45 on Friday. Salesforce Inc. has a 1 year low of $163.52 and a 1 year high of $296.05. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $186.67 and a 200-day simple moving average of $220.45. The stock has a market cap of $144.37 billion, a PE ratio of 22.59, a PEG ratio of 1.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.76. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $11.18 billion. During the same period in the prior year, the firm posted $2.78 EPS. Salesforce’s quarterly revenue was up 12.1% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, sell-side analysts predict that Salesforce Inc. will post 9.71 EPS for the current fiscal year.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 9th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Salesforce’s previous quarterly dividend of $0.42. Salesforce’s payout ratio is 22.54%.

Salesforce declared that its Board of Directors has approved a share buyback plan on Monday, March 16th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Salesforce news, Director David Blair Kirk purchased 2,570 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average cost of $194.62 per share, with a total value of $500,173.40. Following the acquisition, the director directly owned 13,689 shares of the company’s stock, valued at approximately $2,664,153.18. This trade represents a 23.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Laura Alber purchased 2,571 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $194.58 per share, with a total value of $500,265.18. Following the completion of the acquisition, the director directly owned 9,530 shares in the company, valued at approximately $1,854,347.40. This represents a 36.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.00% of the company’s stock.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.