Quantum Private Wealth LLC Has $1.67 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Quantum Private Wealth LLC decreased its stake in Salesforce, Inc. (NYSE:CRM) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 6,348 shares of the CRM provider’s stock after selling 136 shares during the period. Salesforce comprises approximately 0.7% of Quantum Private Wealth LLC’s portfolio, making the stock its 29th biggest holding. Quantum Private Wealth LLC’s holdings in Salesforce were worth $1,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CRM. Graypoint LLC increased its stake in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after purchasing an additional 36 shares in the last quarter. Prentice Wealth Management LLC boosted its position in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 38 shares during the last quarter. MV Capital Management Inc. boosted its position in Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after acquiring an additional 39 shares during the last quarter. Legal Advantage Investments Inc. boosted its position in Salesforce by 0.7% during the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock worth $1,466,000 after acquiring an additional 40 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its position in Salesforce by 1.2% during the 4th quarter. Mayflower Financial Advisors LLC now owns 3,411 shares of the CRM provider’s stock worth $898,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. KeyCorp initiated coverage on Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Wedbush upped their price target on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. BMO Capital Markets increased their price objective on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Finally, Bank of America increased their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the sale, the insider now owns 105,837 shares of the company’s stock, valued at $31,936,314.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 897,375 shares of company stock worth $260,206,096 over the last 90 days. Insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

CRM stock traded up $4.51 during trading hours on Wednesday, hitting $277.41. 7,624,347 shares of the stock were exchanged, compared to its average volume of 4,686,930. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $269.09 billion, a P/E ratio of 66.05, a P/E/G ratio of 2.10 and a beta of 1.28. The company has a 50-day simple moving average of $298.35 and a two-hundred day simple moving average of $260.79. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the firm earned $1.01 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

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.