Salesforce, Inc. (NYSE:CRM) Stock Position Raised by Aquatic Capital Management LLC

Aquatic Capital Management LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 73.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,465 shares of the CRM provider's stock after purchasing an additional 56,065 shares during the quarter. Salesforce comprises 1.2% of Aquatic Capital Management LLC's investment portfolio, making the stock its 2nd biggest holding. Aquatic Capital Management LLC's holdings in Salesforce were worth $44,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC boosted its holdings in 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 acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at about $31,000. Finally, Collier Financial purchased a new position in Salesforce during the fourth quarter worth about $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CRM shares. Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Piper Sandler lowered their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Redburn Atlantic started coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. Finally, Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $350.56.

Salesforce Trading Down 0.6 %

Shares of CRM traded down $1.52 during trading hours on Wednesday, reaching $266.24. 1,368,955 shares of the company traded hands, compared to its average volume of 6,793,454. The company's fifty day moving average price is $271.56 and its two-hundred day moving average price is $308.10. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $255.96 billion, a price-to-earnings ratio of 43.79, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. 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 annualized dividend and a dividend yield of 0.63%. Salesforce's payout ratio is currently 26.10%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock valued at $15,027,714 over the last ninety days. Company insiders own 3.20% of the company's stock.

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.