Xcel Wealth Management LLC Has $5.05 Million Stake in Salesforce, Inc. (NYSE:CRM)

Xcel Wealth Management LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,182 shares of the CRM provider’s stock after selling 932 shares during the quarter. Salesforce comprises approximately 1.8% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. Xcel Wealth Management LLC’s holdings in Salesforce were worth $5,048,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Walkner Condon Financial Advisors LLC boosted its position in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after acquiring an additional 74 shares in the last quarter. Procyon Advisors LLC boosted its holdings in shares of Salesforce by 72.3% in the 3rd quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock valued at $5,978,000 after purchasing an additional 12,371 shares in the last quarter. Pure Financial Advisors LLC bought a new position in shares of Salesforce in the 4th quarter valued at $214,000. Riversedge Advisors LLC raised its holdings in shares of Salesforce by 21.7% during the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after buying an additional 420 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of Salesforce during the 3rd quarter worth $2,499,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $269.77, for a total value of $4,046,550.00. Following the completion of the transaction, the chief executive officer now directly owns 13,791,166 shares of the company’s stock, valued at approximately $3,720,442,851.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $269.77, for a total transaction of $4,046,550.00. Following the sale, the chief executive officer now owns 13,791,166 shares of the company’s stock, valued at approximately $3,720,442,851.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $270.28, for a total value of $2,702,800.00. Following the completion of the transaction, the insider now owns 59,861 shares of the company’s stock, valued at approximately $16,179,231.08. The disclosure for this sale can be found here. Insiders sold 907,375 shares of company stock worth $262,519,346 over the last quarter. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Performance

CRM stock traded down $4.90 during midday trading on Friday, hitting $294.25. The company’s stock had a trading volume of 3,816,914 shares, compared to its average volume of 5,522,635. Salesforce, Inc. has a 1 year low of $190.45 and a 1 year high of $318.71. The stock has a market cap of $285.42 billion, a price-to-earnings ratio of 70.15, a PEG ratio of 2.30 and a beta of 1.28. The stock’s 50-day moving average price is $298.65 and its 200 day moving average price is $258.37. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping 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 business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CRM shares. Evercore ISI upped their price objective on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Needham & Company LLC raised their price objective on Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Wolfe Research upgraded Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price for the company in a research report on Monday, December 18th. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $290.00 to $350.00 in a report on Thursday, December 21st. Finally, Mizuho reaffirmed a “buy” rating and issued a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $305.77.

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Salesforce Company Profile

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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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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