Dash Acquisitions Inc. Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Dash Acquisitions Inc. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 58,996 shares of the CRM provider’s stock after acquiring an additional 2,679 shares during the period. Salesforce comprises 4.1% of Dash Acquisitions Inc.’s portfolio, making the stock its 11th biggest position. Dash Acquisitions Inc.’s holdings in Salesforce were worth $17,136,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CRM. Weatherly Asset Management L. P. purchased a new stake in Salesforce in the 3rd quarter valued at about $213,000. Roanoke Asset Management Corp NY grew its position in shares of Salesforce by 2.7% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 22,165 shares of the CRM provider’s stock worth $6,067,000 after buying an additional 580 shares in the last quarter. Eads & Heald Wealth Management increased its stake in shares of Salesforce by 7.9% during the third quarter. Eads & Heald Wealth Management now owns 2,841 shares of the CRM provider’s stock valued at $778,000 after buying an additional 207 shares during the period. Shepherd Financial Partners LLC raised its holdings in shares of Salesforce by 1.6% in the third quarter. Shepherd Financial Partners LLC now owns 8,050 shares of the CRM provider’s stock valued at $2,203,000 after acquiring an additional 127 shares in the last quarter. Finally, Silver Coast Investments LLC lifted its stake in Salesforce by 2.1% in the third quarter. Silver Coast Investments LLC now owns 1,955 shares of the CRM provider’s stock worth $535,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $294.72 on Friday. The firm has a market capitalization of $281.75 billion, a P/E ratio of 51.26, a PEG ratio of 2.68 and a beta of 1.30. The stock has a 50-day simple moving average of $273.02 and a two-hundred day simple moving average of $263.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the business earned $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. BMO Capital Markets raised their target price on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Bank of America reissued a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Loop Capital reissued a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Finally, TD Cowen upped their price objective on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $313.37.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,303 shares of company stock worth $42,024,385. Company insiders own 3.20% of the company’s stock.

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.