Dash Acquisitions Inc. Has $14.02 Million Stake in Salesforce, Inc. (NYSE:CRM)

Dash Acquisitions Inc. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 50,731 shares of the CRM provider’s stock after purchasing an additional 608 shares during the period. Salesforce accounts for approximately 4.4% of Dash Acquisitions Inc.’s holdings, making the stock its 10th largest position. Dash Acquisitions Inc.’s holdings in Salesforce were worth $14,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $31,000. BKM Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $34,000. Finally, Pacifica Partners Inc. boosted its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Mason Morfit acquired 428,000 shares of the stock in a transaction on Monday, June 3rd. The shares were acquired at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 509,952 shares of company stock worth $139,786,753. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

CRM stock traded down $0.02 during midday trading on Tuesday, reaching $256.19. 5,099,313 shares of the company’s stock traded hands, compared to its average volume of 6,962,239. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market cap of $248.25 billion, a P/E ratio of 46.13, a PEG ratio of 2.26 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average is $259.43 and its 200 day moving average is $276.46.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. As a group, analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is 7.19%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup cut their price target on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. BMO Capital Markets cut their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Wedbush cut their price target on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. Stifel Nicolaus lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Finally, UBS Group lowered their price objective on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Company 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.