Robeco Institutional Asset Management B.V. Has $396.26 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

Robeco Institutional Asset Management B.V. lifted its holdings in Salesforce Inc. (NYSE:CRM) by 61.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,476,593 shares of the CRM provider’s stock after buying an additional 559,880 shares during the period. Salesforce comprises approximately 0.8% of Robeco Institutional Asset Management B.V.’s portfolio, making the stock its 20th biggest position. Robeco Institutional Asset Management B.V. owned about 0.15% of Salesforce worth $396,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC boosted its position in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Northern Trust Corp boosted its position in Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after purchasing an additional 1,736,667 shares during the last quarter. Norges Bank acquired a new stake in Salesforce during the fourth quarter valued at $3,599,867,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock valued at $2,988,422,000 after buying an additional 1,683,233 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 261 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $68,473.35. Following the completion of the sale, the chief accounting officer now owns 12,024 shares in the company, valued at approximately $3,154,496.40. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,284 shares of company stock worth $6,996,762. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Jefferies Financial Group reduced their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. UBS Group set a $404.00 price target on Salesforce and gave the stock an “overweight” rating in a research report on Wednesday, June 18th. Mizuho reduced their price target on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th. The Goldman Sachs Group boosted their price target on Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, Piper Sandler boosted their price target on Salesforce from $315.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $349.08.

Salesforce Trading Down 1.1%

Shares of CRM opened at $268.11 on Thursday. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $256.31 billion, a price-to-earnings ratio of 41.96, a P/E/G ratio of 2.46 and a beta of 1.38. The stock’s 50-day moving average price is $269.39 and its 200 day moving average price is $295.75.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is currently 25.98%.

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.