1,800 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Nutshell Asset Management Ltd

Nutshell Asset Management Ltd acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,800 shares of the CRM provider’s stock, valued at approximately $602,000. Salesforce comprises approximately 0.4% of Nutshell Asset Management Ltd’s portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Salesforce by 0.3% during the fourth quarter. Russell Investments Group Ltd. now owns 907,832 shares of the CRM provider’s stock valued at $303,666,000 after purchasing an additional 2,293 shares during the period. Ted Buchan & Co grew its stake in Salesforce by 4.0% in the 4th quarter. Ted Buchan & Co now owns 3,996 shares of the CRM provider’s stock worth $1,336,000 after acquiring an additional 153 shares in the last quarter. Hemenway Trust Co LLC increased its position in shares of Salesforce by 712.5% during the fourth quarter. Hemenway Trust Co LLC now owns 21,897 shares of the CRM provider’s stock worth $7,321,000 after acquiring an additional 19,202 shares during the period. Payden & Rygel raised its stake in shares of Salesforce by 272.3% during the fourth quarter. Payden & Rygel now owns 17,500 shares of the CRM provider’s stock valued at $5,851,000 after acquiring an additional 12,800 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Salesforce by 6.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,493,493 shares of the CRM provider’s stock valued at $499,320,000 after purchasing an additional 94,229 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRM shares. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Stock Down 5.9 %

Shares of CRM opened at $240.26 on Friday. The stock’s 50-day moving average price is $302.46 and its 200-day moving average price is $311.00. 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 $230.89 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. 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%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce 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.