Salesforce, Inc. (NYSE:CRM) is Long Path Partners LP’s 4th Largest Position

Long Path Partners LP increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 31.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,827 shares of the CRM provider’s stock after buying an additional 23,933 shares during the period. Salesforce comprises approximately 9.0% of Long Path Partners LP’s holdings, making the stock its 4th biggest holding. Long Path Partners LP’s holdings in Salesforce were worth $27,597,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC raised its holdings in Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the period. Umpqua Bank increased its position in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares in the last quarter. Nvwm LLC raised its holdings in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares during the period. Prentice Wealth Management LLC lifted its position in shares of Salesforce by 1.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 37 shares in the last quarter. Finally, Private Wealth Management Group LLC boosted its stake in Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,991 shares of company stock worth $43,333,238. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday. BMO Capital Markets upped their price target on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Loop Capital raised their price objective on Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Scotiabank initiated coverage on Salesforce in a report on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $336.37.

Salesforce Stock Performance

Shares of CRM opened at $342.02 on Friday. The company has a market capitalization of $326.97 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company’s fifty day moving average price is $294.61 and its 200 day moving average price is $268.60.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is 27.83%.

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.