Salesforce Inc. (NYSE:CRM) Shares Sold by Quattro Financial Advisors LLC

Quattro Financial Advisors LLC reduced its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 53.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,000 shares of the CRM provider's stock after selling 40,000 shares during the period. Salesforce accounts for about 3.2% of Quattro Financial Advisors LLC's investment portfolio, making the stock its 8th biggest holding. Quattro Financial Advisors LLC's holdings in Salesforce were worth $9,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after buying an additional 3,102 shares during the period. Revolve Wealth Partners LLC grew its position in Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares in the last quarter. Proficio Capital Partners LLC grew its position in Salesforce by 70.4% during the 4th quarter. Proficio Capital Partners LLC now owns 2,791 shares of the CRM provider's stock worth $933,000 after purchasing an additional 1,153 shares in the last quarter. Ethos Financial Group LLC purchased a new position in Salesforce during the 4th quarter worth approximately $237,000. Finally, Welch & Forbes LLC grew its position in Salesforce by 3.5% during the 4th quarter. Welch & Forbes LLC now owns 9,395 shares of the CRM provider's stock worth $3,141,000 after purchasing an additional 316 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Salesforce stock traded up $2.37 on Friday, reaching $271.58. 5,031,804 shares of the stock were exchanged, compared to its average volume of 6,543,799. The stock has a market cap of $259.63 billion, a PE ratio of 34.28, a PEG ratio of 2.47 and a beta of 1.36. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The firm has a fifty day moving average price of $272.28 and a two-hundred day moving average price of $291.78.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business's revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. Sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRM shares. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Citigroup lowered their price target on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Macquarie restated a "neutral" rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Cantor Fitzgerald restated an "overweight" rating and set a $325.00 price target on shares of Salesforce in a report on Thursday, June 26th. Finally, Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $349.08.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total value of $613,080.00. Following the completion of the transaction, the chief executive officer owned 11,862,457 shares of the company's stock, valued at $3,232,282,283.36. This represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 1,142 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $299,603.70. Following the completion of the transaction, the insider directly owned 136,824 shares of the company's stock, valued at approximately $35,895,776.40. This trade represents a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,534 shares of company stock valued at $7,609,842 in the last three months. Company insiders own 3.20% of the company's stock.

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.