Quattro Financial Advisors LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Quattro Financial Advisors LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the CRM provider’s stock after acquiring an additional 10,000 shares during the period. Salesforce makes up 6.5% of Quattro Financial Advisors LLC’s holdings, making the stock its 2nd biggest holding. Quattro Financial Advisors LLC’s holdings in Salesforce were worth $24,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Foundations Investment Advisors LLC raised its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new stake in Salesforce in the 3rd quarter worth about $1,215,000. Prime Capital Investment Advisors LLC increased its stake in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its stake in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd grew its holdings in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.5 %

Shares of CRM opened at $325.81 on Friday. 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, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market capitalization of $311.80 billion, a P/E ratio of 53.59, a P/E/G ratio of 3.09 and a beta of 1.31. The firm’s 50 day simple moving average is $339.05 and its 200 day simple moving average is $299.87.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 earnings per share. Sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is 26.32%.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock worth $384,366,700 in the last quarter. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRM. DA Davidson lifted their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Cfra set a $343.00 target price on Salesforce in a research note on Thursday, October 17th. Macquarie restated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Loop Capital raised their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.