Aster Capital Management DIFC Ltd Purchases 3,907 Shares of Salesforce, Inc. (NYSE:CRM)

Aster Capital Management DIFC Ltd raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 3,052.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,035 shares of the CRM provider’s stock after acquiring an additional 3,907 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Salesforce were worth $1,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter worth approximately $31,000. Collier Financial bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. DA Davidson cut their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group decreased their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Guggenheim restated a “sell” rating and set a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $361.42.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 $15,705,195. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

Salesforce stock opened at $240.26 on Friday. The business’s fifty day moving average is $302.46 and its two-hundred day moving average is $311.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $230.89 billion, a P/E ratio of 39.52, a P/E/G 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 business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.70%. Salesforce’s dividend payout ratio is 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.