Quadcap Wealth Management LLC Has $2.08 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Quadcap Wealth Management LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,231 shares of the CRM provider’s stock after buying an additional 187 shares during the period. Quadcap Wealth Management LLC’s holdings in Salesforce were worth $2,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth about $30,000. Finally, Asset Planning Inc acquired a new position in Salesforce in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. Cantor Fitzgerald began coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price objective for the company. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Morgan Stanley decreased their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Scotiabank cut their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $350.56.

Salesforce Trading Up 0.2%

Shares of NYSE CRM opened at $289.77 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market cap of $278.58 billion, a P/E ratio of 47.66, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The firm has a 50-day moving average of $267.47 and a 200 day moving average of $307.10. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s payout ratio is currently 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now owns 11,711 shares of the company’s stock, valued at $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock worth $12,907,361 over the last three months. 3.20% of the stock is currently owned by company insiders.

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.