Square Wave Partners L.P. Purchases Shares of 21,438 Salesforce, Inc. (NYSE:CRM)

Square Wave Partners L.P. acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,438 shares of the CRM provider's stock, valued at approximately $7,167,000. Salesforce makes up 6.9% of Square Wave Partners L.P.'s portfolio, making the stock its 8th biggest holding.

Several other hedge funds also recently modified their holdings of CRM. Norges Bank acquired a new stake in Salesforce in the fourth quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Salesforce during the 4th quarter valued at $1,173,564,000. Invesco Ltd. increased its stake in Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares in the company, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company's stock, valued at approximately $1,805,936.08. This represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of Salesforce stock traded up $0.01 on Tuesday, reaching $287.64. The stock had a trading volume of 4,026,816 shares, compared to its average volume of 6,889,264. The business's 50 day moving average is $268.48 and its two-hundred day moving average is $307.02. The company has a market cap of $276.53 billion, a P/E ratio of 47.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. 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%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's payout ratio is 26.10%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of analyst reports. Westpark Capital reiterated a "buy" rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. DA Davidson restated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. Finally, Macquarie reaffirmed a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $352.62.

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.