Quattro Financial Advisors LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Quattro Financial Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 18,911.4% during the first quarter, Holdings Channel.com reports. The fund owned 50,000 shares of the CRM provider’s stock after acquiring an additional 49,737 shares during the period. Salesforce comprises 4.3% of Quattro Financial Advisors LLC’s investment portfolio, making the stock its 7th largest position. Quattro Financial Advisors LLC’s holdings in Salesforce were worth $15,059,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the 4th quarter valued at $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the 4th quarter valued at $31,000. Pacifica Partners Inc. increased its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at $34,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. TD Cowen decreased their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Evercore ISI cut their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Wells Fargo & Company cut their price objective on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. JMP Securities reissued a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Monday, April 15th. Finally, Argus raised their price objective on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $305.42, for a total value of $4,581,300.00. Following the completion of the transaction, the chief executive officer now directly owns 12,981,166 shares of the company’s stock, valued at $3,964,707,719.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $305.42, for a total value of $4,581,300.00. Following the transaction, the chief executive officer now owns 12,981,166 shares in the company, valued at $3,964,707,719.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 5,864 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the transaction, the chief financial officer now owns 45,231 shares in the company, valued at approximately $12,428,121.87. The disclosure for this sale can be found here. Insiders sold a total of 509,952 shares of company stock valued at $139,786,753 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.1 %

CRM traded up $0.21 during midday trading on Tuesday, reaching $256.42. 5,130,403 shares of the company were exchanged, compared to its average volume of 6,962,483. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company’s fifty day moving average price is $259.43 and its 200 day moving average price is $276.46. The company has a market cap of $248.47 billion, a price-to-earnings ratio of 46.13, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 7.19%.

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.