Dillon & Associates Inc. Grows Stake in Salesforce, Inc. (NYSE:CRM)

Dillon & Associates Inc. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,651 shares of the CRM provider’s stock after purchasing an additional 67 shares during the quarter. Salesforce accounts for 1.3% of Dillon & Associates Inc.’s portfolio, making the stock its 25th biggest holding. Dillon & Associates Inc.’s holdings in Salesforce were worth $9,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nvest Financial LLC lifted its holdings in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after acquiring an additional 31 shares during the period. OMC Financial Services LTD raised its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the period. Sachetta LLC raised its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its position 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 worth $1,125,000 after purchasing an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of CRM opened at $281.56 on Monday. The company has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $313.51 and a 200 day moving average of $310.36. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,762 shares of company stock worth $13,733,407 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Finally, Stephens initiated coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

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.