Robeco Institutional Asset Management B.V. Has $267.06 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Robeco Institutional Asset Management B.V. boosted its stake in Salesforce, Inc. (NYSE:CRM) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 975,712 shares of the CRM provider’s stock after buying an additional 2,825 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.10% of Salesforce worth $267,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Opes Wealth Management LLC grew its stake in Salesforce by 3.8% in the third quarter. Opes Wealth Management LLC now owns 1,316 shares of the CRM provider’s stock valued at $360,000 after purchasing an additional 48 shares in the last quarter. Harvey Capital Management Inc. lifted its holdings in shares of Salesforce by 243.8% during the 3rd quarter. Harvey Capital Management Inc. now owns 29,136 shares of the CRM provider’s stock valued at $7,975,000 after buying an additional 20,661 shares during the last quarter. Westbourne Investment Advisors Inc. grew its stake in shares of Salesforce by 3.5% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 21,388 shares of the CRM provider’s stock valued at $5,854,000 after buying an additional 714 shares in the last quarter. Private Wealth Management Group LLC grew its stake in shares of Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after buying an additional 37 shares in the last quarter. Finally, Veritas Asset Management LLP acquired a new position in Salesforce in the third quarter worth approximately $733,805,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Miguel Milano sold 2,934 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the sale, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,303 shares of company stock valued at $42,024,385 in the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of CRM stock opened at $294.72 on Monday. The stock’s fifty day simple moving average is $273.02 and its 200 day simple moving average is $263.18. Salesforce, Inc. has a one year low of $204.69 and a one year high of $318.71. The firm has a market cap of $281.75 billion, a price-to-earnings ratio of 51.26, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 EPS. On average, analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Analyst Ratings Changes

CRM has been the subject of several recent research reports. Loop Capital reissued a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Morgan Stanley upped their price objective on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. TD Cowen raised their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Truist Financial reiterated a “buy” rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Finally, BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce Company 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.