Landscape Capital Management L.L.C. Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Landscape Capital Management L.L.C. acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,019 shares of the CRM provider's stock, valued at approximately $2,012,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter worth approximately $31,000. Collier Financial purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CRM. JMP Securities restated a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group decreased their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Wedbush reaffirmed an "outperform" rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $361.42.

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Salesforce Stock Performance

Shares of CRM opened at $240.26 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company's 50 day simple moving average is $302.46 and its 200 day simple moving average is $311.00. The company has a market capitalization of $230.89 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.70%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Oscar Munoz purchased 3,882 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average cost of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now directly owns 11,843 shares of the company's stock, valued at $3,046,967.04. The trade was a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by insiders.

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.

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