Salesforce, Inc. (NYSE:CRM) Shares Bought by Waterloo Capital L.P.

Waterloo Capital L.P. raised its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 102.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,971 shares of the CRM provider's stock after buying an additional 2,009 shares during the period. Waterloo Capital L.P.'s holdings in Salesforce were worth $1,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. United Bank raised its stake in Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider's stock worth $1,999,000 after acquiring an additional 76 shares during the period. Zacks Investment Management boosted its holdings in Salesforce by 14.8% in the 3rd quarter. Zacks Investment Management now owns 34,918 shares of the CRM provider's stock worth $9,558,000 after buying an additional 4,489 shares during the period. Dunhill Financial LLC increased its stake in Salesforce by 36.4% in the 3rd quarter. Dunhill Financial LLC now owns 390 shares of the CRM provider's stock worth $107,000 after buying an additional 104 shares in the last quarter. Kensington Investment Counsel LLC raised its holdings in Salesforce by 4.8% during the third quarter. Kensington Investment Counsel LLC now owns 3,104 shares of the CRM provider's stock valued at $850,000 after acquiring an additional 141 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of Salesforce by 6.3% in the third quarter. MML Investors Services LLC now owns 154,793 shares of the CRM provider's stock worth $42,368,000 after acquiring an additional 9,229 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 4.8 %

Shares of Salesforce stock traded down $12.65 during trading hours on Thursday, hitting $252.10. The company had a trading volume of 4,148,746 shares, compared to its average volume of 6,765,778. The company's 50-day moving average is $292.76 and its two-hundred day moving average is $310.70. The company has a market cap of $242.27 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce's payout ratio is 26.10%.

Insiders Place Their Bets

In other news, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares in the company, valued at approximately $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on CRM. Piper Sandler restated an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. Wedbush reiterated an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Bank of America lowered their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, DA Davidson dropped their price target on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

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.