Salesforce, Inc. (NYSE:CRM) Shares Purchased by BluePath Capital Management LLC

BluePath Capital Management LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 19.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,646 shares of the CRM provider’s stock after buying an additional 582 shares during the quarter. BluePath Capital Management LLC’s holdings in Salesforce were worth $998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. boosted its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC boosted its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Phillip Securities reissued an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Citigroup lifted their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Loop Capital reissued a “hold” rating and set a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $313.37.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $251.62, for a total value of $352,268.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,585,731.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 148,303 shares of company stock valued at $42,024,385 over the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

NYSE:CRM opened at $294.72 on Friday. The firm’s 50-day moving average is $273.02 and its 200-day moving average is $263.37. Salesforce, Inc. has a 52-week low of $204.69 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $281.75 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 2.68 and a beta of 1.30.

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

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s payout ratio is currently 27.83%.

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.