BluePath Capital Management LLC Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

BluePath Capital Management LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,646 shares of the CRM provider’s stock after purchasing 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. FORVIS Wealth Advisors LLC raised its position in Salesforce by 18.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 1,650 shares of the CRM provider’s stock valued at $497,000 after purchasing an additional 257 shares during the last quarter. 1834 Investment Advisors Co. increased its stake in Salesforce by 5.4% in the 1st quarter. 1834 Investment Advisors Co. now owns 1,966 shares of the CRM provider’s stock valued at $592,000 after buying an additional 101 shares during the period. Hussman Strategic Advisors Inc. increased its stake in Salesforce by 100.0% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 2,100 shares of the CRM provider’s stock valued at $632,000 after buying an additional 1,050 shares during the period. Tobam increased its stake in Salesforce by 7.3% in the 1st quarter. Tobam now owns 1,769 shares of the CRM provider’s stock valued at $533,000 after buying an additional 120 shares during the period. Finally, Choreo LLC increased its stake in Salesforce by 1.2% in the 1st quarter. Choreo LLC now owns 24,122 shares of the CRM provider’s stock valued at $7,265,000 after buying an additional 293 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.1 %

CRM stock opened at $294.72 on Friday. 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. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $273.02 and a 200-day simple moving average of $263.37. Salesforce, Inc. has a 52 week low of $204.69 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. On average, equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Salesforce’s payout ratio is 27.83%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Raymond James upped their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. UBS Group upped their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Wedbush upped their price target on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Morgan Stanley upped their price target on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the transaction, the insider now owns 3,716 shares in the company, valued at $977,122.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,303 shares of company stock valued at $42,024,385. 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.