PFG Advisors Raises Stake in Salesforce, Inc. (NYSE:CRM)

PFG Advisors grew its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,533 shares of the CRM provider’s stock after purchasing an additional 52 shares during the quarter. PFG Advisors’ holdings in Salesforce were worth $403,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CRM. Union Savings Bank bought a new stake in shares of Salesforce in the second quarter valued at about $27,000. Pacifica Partners Inc. raised its holdings in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter valued at about $34,000. GHP Investment Advisors Inc. raised its holdings in shares of Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after acquiring an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners bought a new stake in shares of Salesforce in the fourth quarter valued at about $36,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $251.61, for a total value of $3,774,150.00. Following the completion of the transaction, the chief executive officer now directly owns 13,896,166 shares of the company’s stock, valued at approximately $3,496,414,327.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $251.61, for a total value of $3,774,150.00. Following the completion of the sale, the chief executive officer now directly owns 13,896,166 shares of the company’s stock, valued at $3,496,414,327.26. The disclosure for this sale can be found here. Insiders have sold 913,175 shares of company stock worth $261,391,996 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRM. Wedbush lifted their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Royal Bank of Canada boosted their target price on shares of Salesforce from $285.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. Finally, TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.32.

View Our Latest Stock Analysis on Salesforce

Salesforce Trading Up 0.6 %

Salesforce stock opened at $304.02 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $187.31 and a 12 month high of $318.71. The stock’s 50 day simple moving average is $295.56 and its two-hundred day simple moving average is $254.02. The firm has a market cap of $294.90 billion, a PE ratio of 72.39, a P/E/G ratio of 2.32 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

About Salesforce

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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