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

Delta Investment Management LLC lowered its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 77.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group lowered their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Oppenheimer lowered their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $351.59.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 458 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company's stock, valued at $1,805,936.08. This represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,306 shares of company stock worth $12,841,368 over the last three months. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

CRM stock traded up $0.80 during trading on Thursday, reaching $283.08. 6,638,753 shares of the company were exchanged, compared to its average volume of 6,911,387. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $272.15 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a 50-day moving average of $268.53 and a two-hundred day moving average of $306.85.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

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.