PFG Investments LLC Has $1.21 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

PFG Investments LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 19.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,595 shares of the CRM provider’s stock after purchasing an additional 756 shares during the quarter. PFG Investments LLC’s holdings in Salesforce were worth $1,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Osterweis Capital Management Inc. raised its position in shares of Salesforce by 463.1% in the 2nd quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider’s stock valued at $694,000 after buying an additional 2,700 shares in the last quarter. Pointe Capital Management LLC grew its holdings in Salesforce by 370.0% during the 2nd quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after acquiring an additional 1,221 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after acquiring an additional 74 shares during the last quarter. Procyon Advisors LLC grew its holdings in Salesforce by 72.3% during the 3rd quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock worth $5,978,000 after acquiring an additional 12,371 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Salesforce in the 2nd quarter valued at $341,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Oppenheimer boosted their target price on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. BMO Capital Markets upped their price objective on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Robert W. Baird raised their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, JMP Securities raised their price objective on shares of Salesforce from $293.00 to $342.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $304.32.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Marc Benioff sold 265,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $266.15, for a total transaction of $70,529,750.00. Following the completion of the transaction, the chief executive officer now directly owns 14,206,166 shares in the company, valued at approximately $3,780,971,080.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 942 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,159,307 shares of company stock valued at $324,535,513. 3.70% of the stock is owned by corporate insiders.

Salesforce Trading Down 1.7 %

Salesforce stock traded down $5.26 during mid-day trading on Wednesday, reaching $300.57. 963,727 shares of the company traded hands, compared to its average volume of 5,723,466. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s 50 day moving average price is $292.85 and its 200 day moving average price is $251.18. The firm has a market capitalization of $291.55 billion, a price-to-earnings ratio of 72.82, a P/E/G ratio of 2.35 and a beta of 1.28. Salesforce, Inc. has a 52-week low of $187.31 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. On average, analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

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.