PFG Investments LLC Purchases 8,744 Shares of Salesforce, Inc. (NYSE:CRM)

PFG Investments LLC boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 190.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,339 shares of the CRM provider's stock after acquiring an additional 8,744 shares during the period. PFG Investments LLC's holdings in Salesforce were worth $4,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at about $26,000. Red Tortoise LLC bought a new stake in shares of Salesforce during the first quarter valued at about $33,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at about $31,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at about $34,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $283.12, for a total value of $2,831,200.00. Following the completion of the transaction, the insider now owns 60,416 shares in the company, valued at $17,104,977.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the completion of the transaction, the insider now directly owns 60,416 shares in the company, valued at $17,104,977.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Millham sold 4,204 shares of the firm's stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $278.00, for a total value of $1,168,712.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 620,793 shares of company stock worth $182,177,918. 3.70% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.4 %

CRM stock traded up $1.15 on Friday, reaching $274.29. The company's stock had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The business has a fifty day simple moving average of $295.97 and a two-hundred day simple moving average of $264.30. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The firm has a market cap of $266.06 billion, a PE ratio of 65.31, a PEG ratio of 2.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce's dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRM shares. Robert W. Baird upped their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. 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 research report on Thursday, February 29th. Truist Financial restated a "buy" rating and issued a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Royal Bank of Canada restated an "outperform" rating and issued a $350.00 price objective (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $350.00 price objective on shares of Salesforce in a research report on Wednesday, April 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $310.61.

About Salesforce

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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