Nebula Research & Development LLC Buys Shares of 4,499 Salesforce, Inc. (NYSE:CRM)

Nebula Research & Development LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,499 shares of the CRM provider's stock, valued at approximately $1,504,000.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Lord Abbett & CO. LLC acquired a new position in shares of Salesforce in the fourth quarter worth about $61,384,000. Rothschild Capital Partners LLC acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $408,000. Kovitz Investment Group Partners LLC boosted its stake in shares of Salesforce by 166.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,667,337 shares of the CRM provider's stock valued at $557,441,000 after buying an additional 1,042,132 shares during the last quarter. Topsail Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter worth $215,000. Finally, Hancock Whitney Corp boosted its stake in Salesforce by 11.7% during the 4th quarter. Hancock Whitney Corp now owns 12,067 shares of the CRM provider's stock valued at $4,034,000 after acquiring an additional 1,260 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CRM shares. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Wells Fargo & Company decreased their target price on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Piper Sandler decreased their price target on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $350.56.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $386,831.50. Following the transaction, the chief accounting officer now owns 12,211 shares in the company, valued at $3,097,442.26. This trade represents a 11.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, 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 three months, insiders sold 52,051 shares of company stock worth $15,027,714. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Down 0.8 %

CRM traded down $2.04 during midday trading on Wednesday, hitting $265.72. 1,227,688 shares of the company's stock traded hands, compared to its average volume of 6,792,861. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $255.46 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock's fifty day simple moving average is $271.56 and its 200-day simple moving average is $308.10.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is presently 26.10%.

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.