Headlands Technologies LLC Buys Shares of 33,814 Salesforce, Inc. (NYSE:CRM)

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

Several other large investors also recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the 3rd quarter worth $1,215,000. Athena Investment Management purchased a new position in Salesforce during the fourth quarter valued at $236,000. Highland Capital Management LLC bought a new stake in Salesforce during the fourth quarter valued at about $4,321,000. Finally, Geode Capital Management LLC increased its position in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CRM shares. Canaccord Genuity Group cut their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company dropped their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $361.42.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last quarter. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Salesforce stock opened at $268.05 on Tuesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company’s 50-day moving average is $308.26 and its 200 day moving average is $311.67. The firm has a market capitalization of $257.60 billion, a P/E ratio of 44.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is presently 26.10%.

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.