Lightspeed Management Company L.L.C. Buys New Stake in Salesforce, Inc. (NYSE:CRM)

Lightspeed Management Company L.L.C. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,237 shares of the CRM provider's stock, valued at approximately $414,000. Salesforce makes up approximately 0.1% of Lightspeed Management Company L.L.C.'s investment portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lionshead Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter worth $593,000. Investment Management Corp of Ontario grew its stake in Salesforce by 6.4% during the 4th quarter. Investment Management Corp of Ontario now owns 48,238 shares of the CRM provider's stock worth $16,127,000 after buying an additional 2,890 shares during the last quarter. Janus Henderson Group PLC grew its stake in Salesforce by 7.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,576,104 shares of the CRM provider's stock worth $861,372,000 after buying an additional 169,075 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in Salesforce by 72.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 38,441 shares of the CRM provider's stock worth $12,852,000 after buying an additional 16,092 shares during the last quarter. Finally, Kensico Capital Management Corp grew its stake in Salesforce by 4.9% during the 4th quarter. Kensico Capital Management Corp now owns 432,100 shares of the CRM provider's stock worth $144,464,000 after buying an additional 20,200 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRM. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Stephens assumed coverage on Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $350.56.

Salesforce Stock Up 0.1%

NYSE CRM traded up $0.36 during trading on Tuesday, reaching $289.18. 6,708,467 shares of the company's stock were exchanged, compared to its average volume of 6,859,158. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. 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 stock has a market cap of $278.01 billion, a P/E ratio of 47.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a 50 day moving average price of $267.33 and a two-hundred day moving average price of $307.23.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock worth $12,907,361 in the last quarter. Company insiders own 3.20% of the company's stock.

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.