Quattro Financial Advisors LLC Purchases 49,737 Shares of Salesforce, Inc. (NYSE:CRM)

Quattro Financial Advisors LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 18,911.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the CRM provider’s stock after acquiring an additional 49,737 shares during the quarter. Salesforce accounts for about 4.3% of Quattro Financial Advisors LLC’s holdings, making the stock its 7th biggest holding. Quattro Financial Advisors LLC’s holdings in Salesforce were worth $15,059,000 at the end of the most recent reporting period.

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

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 sale, the chief financial officer now directly owns 45,231 shares in the company, valued at $12,428,121.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 509,952 shares of company stock valued at $139,786,753. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James restated a “strong-buy” rating and set a $325.00 target price (down from $380.00) on shares of Salesforce in a research report on Thursday, May 30th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Morgan Stanley decreased their target price on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Sanford C. Bernstein lifted their price target on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One investment 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Stock Up 0.1 %

NYSE CRM traded up $0.21 on Tuesday, reaching $256.42. The company had a trading volume of 5,130,403 shares, compared to its average volume of 6,962,483. The firm has a market capitalization of $248.47 billion, a PE ratio of 46.13, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a 50-day moving average of $259.43 and a 200-day moving average of $276.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share 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 return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current fiscal 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 paid a dividend of $0.40 per share. 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 (DPR) is currently 7.19%.

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.