Nebula Research & Development LLC Invests $1.50 Million in Salesforce, Inc. (NYSE:CRM)

Nebula Research & Development LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,499 shares of the CRM provider’s stock, valued at approximately $1,504,000.

Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC increased its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares during the period. Athena Investment Management bought a new position in Salesforce in the 4th quarter worth about $236,000. Highland Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth approximately $4,321,000. Nordea Investment Management AB raised its stake in shares of Salesforce by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock valued at $766,566,000 after acquiring an additional 243,008 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after purchasing an additional 1,936 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Stephens initiated coverage on Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective on the stock. Morgan Stanley decreased their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Oppenheimer reduced their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $351.37.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. This trade represents a 16.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock valued at $15,027,714 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.2 %

Salesforce stock opened at $267.87 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50-day moving average price of $273.75 and a 200 day moving average price of $308.27. 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 $257.42 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

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

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.