NFJ Investment Group LLC Has $11.43 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

NFJ Investment Group LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,759 shares of the CRM provider’s stock after purchasing an additional 2,705 shares during the quarter. NFJ Investment Group LLC’s holdings in Salesforce were worth $11,430,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Mather Group LLC. raised its position in shares of Salesforce by 110.0% in the 2nd quarter. Mather Group LLC. now owns 3,738 shares of the CRM provider’s stock valued at $961,000 after acquiring an additional 1,958 shares during the period. Lynx Investment Advisory acquired a new position in shares of Salesforce in the 2nd quarter valued at $40,000. Park Avenue Securities LLC increased its position in shares of Salesforce by 6.2% in the 2nd quarter. Park Avenue Securities LLC now owns 29,740 shares of the CRM provider’s stock valued at $7,646,000 after buying an additional 1,746 shares in the last quarter. CVA Family Office LLC lifted its holdings in Salesforce by 4.1% during the second quarter. CVA Family Office LLC now owns 1,482 shares of the CRM provider’s stock worth $381,000 after acquiring an additional 58 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new position in Salesforce in the second quarter valued at about $307,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRM shares. BMO Capital Markets lifted their price objective on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Piper Sandler upped their price target on shares of Salesforce from $325.00 to $395.00 and gave the company an “overweight” rating in a report on Monday. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley lifted their price target on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $345.31.

Salesforce Stock Performance

Shares of Salesforce stock traded down $1.64 during trading on Tuesday, reaching $329.37. The company’s stock had a trading volume of 2,237,529 shares, compared to its average volume of 6,269,296. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $302.12 and its 200-day moving average price is $270.49. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The firm has a market cap of $314.88 billion, a PE ratio of 57.53, a P/E/G ratio of 2.99 and a beta of 1.30.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is presently 27.83%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,982 shares of company stock worth $41,591,457. Corporate insiders own 3.20% of the company’s stock.

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.