Landscape Capital Management L.L.C. Invests $2.01 Million in Salesforce, Inc. (NYSE:CRM)

Landscape Capital Management L.L.C. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,019 shares of the CRM provider’s stock, valued at approximately $2,012,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Salesforce in the fourth quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. acquired a new stake in Salesforce during the 4th quarter valued at $1,173,564,000. Jennison Associates LLC increased its stake in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the period. Swedbank AB boosted its position in Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Salesforce by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider’s stock valued at $1,871,721,000 after acquiring an additional 1,204,355 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 5.9 %

Shares of CRM stock opened at $240.26 on Friday. 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 has a 50-day simple moving average of $302.46 and a 200 day simple moving average of $311.00. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.70%. Salesforce’s dividend payout ratio is currently 26.10%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Macquarie reiterated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, DA Davidson reduced their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.