Del Sette Capital Management LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Del Sette Capital Management LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,008 shares of the CRM provider’s stock after purchasing an additional 118 shares during the quarter. Salesforce accounts for about 1.6% of Del Sette Capital Management LLC’s holdings, making the stock its 16th biggest holding. Del Sette Capital Management LLC’s holdings in Salesforce were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bear Mountain Capital Inc. bought a new position in Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the 4th quarter worth $31,000. Pacifica Partners Inc. raised its position in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC bought a new stake in Salesforce in the fourth quarter worth $34,000. Finally, AlphaMark Advisors LLC boosted its position in Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. Jefferies Financial Group raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Monday, April 15th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. Insiders sold a total of 620,793 shares of company stock valued at $182,177,918 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $1.15 during trading hours on Friday, reaching $274.29. 3,754,585 shares of the stock traded hands, compared to its average volume of 5,162,527. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The firm has a market capitalization of $266.06 billion, a price-to-earnings ratio of 65.31, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $295.97 and a 200 day moving average price of $264.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

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.