PFG Investments LLC Acquires 1,837 Shares of Salesforce Inc. $CRM

PFG Investments LLC lifted its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 29.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,029 shares of the CRM provider's stock after acquiring an additional 1,837 shares during the period. PFG Investments LLC's holdings in Salesforce were worth $2,189,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Brown Shipley& Co Ltd purchased a new stake in shares of Salesforce in the second quarter worth about $40,000. Mitsubishi UFJ Asset Management UK Ltd. lifted its position in shares of Salesforce by 233.3% in the second quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 7,000 shares of the CRM provider's stock worth $1,909,000 after buying an additional 4,900 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. lifted its position in shares of Salesforce by 5.4% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,925 shares of the CRM provider's stock worth $4,343,000 after buying an additional 819 shares in the last quarter. Cooper Financial Group lifted its position in shares of Salesforce by 7.8% in the second quarter. Cooper Financial Group now owns 7,804 shares of the CRM provider's stock worth $2,128,000 after buying an additional 563 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of Salesforce by 30.8% in the second quarter. Truist Financial Corp now owns 536,640 shares of the CRM provider's stock worth $146,336,000 after buying an additional 126,289 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $265.77, for a total value of $597,982.50. Following the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,165,738,224.67. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Blair Kirk acquired 3,400 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, the director owned 3,824 shares of the company's stock, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 78,750 shares of company stock worth $19,825,358. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CRM. Erste Group Bank downgraded Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Oppenheimer decreased their price objective on Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 26th. Cantor Fitzgerald restated an "overweight" rating and set a $325.00 price objective on shares of Salesforce in a research report on Thursday, September 4th. KeyCorp decreased their price objective on Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Finally, Macquarie restated a "neutral" rating and set a $290.00 price objective on shares of Salesforce in a research report on Thursday, September 4th. Twenty-six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $332.58.

Salesforce Trading Down 0.5%

Shares of NYSE CRM opened at $235.72 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. The business's 50 day moving average price is $247.81 and its 200-day moving average price is $260.87. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The company has a market cap of $224.40 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.16 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the business posted $2.56 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, sell-side analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be paid a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's dividend payout ratio is 24.13%.

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.

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