Long Path Partners LP Has $30.13 Million Position in Salesforce, Inc. (NYSE:CRM)

Long Path Partners LP lowered its position in Salesforce, Inc. (NYSE:CRM) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 90,119 shares of the CRM provider’s stock after selling 10,708 shares during the period. Salesforce accounts for about 9.8% of Long Path Partners LP’s holdings, making the stock its 4th biggest position. Long Path Partners LP’s holdings in Salesforce were worth $30,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. United Bank boosted its stake in Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Salesforce by 5.1% in the third quarter. HighTower Advisors LLC now owns 367,016 shares of the CRM provider’s stock valued at $100,386,000 after purchasing an additional 17,955 shares in the last quarter. Ingalls & Snyder LLC boosted its position in shares of Salesforce by 0.5% during the third quarter. Ingalls & Snyder LLC now owns 7,534 shares of the CRM provider’s stock valued at $2,062,000 after buying an additional 41 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Salesforce by 37.5% during the third quarter. IHT Wealth Management LLC now owns 14,539 shares of the CRM provider’s stock worth $3,985,000 after buying an additional 3,967 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC raised its position in Salesforce by 4,854.2% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 43,597 shares of the CRM provider’s stock valued at $11,933,000 after buying an additional 42,717 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,660 shares of company stock valued at $14,095,336. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRM. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Oppenheimer reduced their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays increased their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Trading Up 0.7 %

Shares of CRM opened at $272.06 on Thursday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market capitalization of $261.45 billion, a P/E ratio of 44.75, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $305.91 and its 200 day simple moving average is $311.50.

Salesforce Increases Dividend

The business 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 dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

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.