Headlands Technologies LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Headlands Technologies LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,814 shares of the CRM provider’s stock, valued at approximately $11,305,000. Salesforce accounts for about 1.1% of Headlands Technologies LLC’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds have also recently modified their holdings of the business. Foundations Investment Advisors LLC raised its stake in Salesforce by 15.0% in the fourth 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 in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in shares of Salesforce in the 3rd quarter valued at $1,215,000. Athena Investment Management bought a new position in shares of Salesforce in the 4th quarter worth $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth $4,321,000. Finally, Geode Capital Management LLC boosted its position in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $268.05 on Tuesday. The stock has a market capitalization of $257.60 billion, a PE ratio of 44.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. 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 stock’s 50-day moving average price is $308.26 and its 200-day moving average price is $311.67.

Salesforce Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.63%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CRM. Bank of America decreased their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Macquarie restated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Stephens began coverage on Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Finally, Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one 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 currently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

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.