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

Robeco Institutional Asset Management B.V. lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% in the 3rd quarter, Holdings Channel reports. The fund owned 975,712 shares of the CRM provider’s stock after acquiring an additional 2,825 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Salesforce were worth $267,062,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Opes Wealth Management LLC boosted its stake in Salesforce by 3.8% in the 3rd quarter. Opes Wealth Management LLC now owns 1,316 shares of the CRM provider’s stock worth $360,000 after purchasing an additional 48 shares during the period. Harvey Capital Management Inc. lifted its holdings in shares of Salesforce by 243.8% in the third quarter. Harvey Capital Management Inc. now owns 29,136 shares of the CRM provider’s stock valued at $7,975,000 after purchasing an additional 20,661 shares in the last quarter. Westbourne Investment Advisors Inc. grew its holdings in shares of Salesforce by 3.5% during the third quarter. Westbourne Investment Advisors Inc. now owns 21,388 shares of the CRM provider’s stock worth $5,854,000 after buying an additional 714 shares in the last quarter. Private Wealth Management Group LLC raised its position in 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 during the last quarter. Finally, Veritas Asset Management LLP bought a new stake in Salesforce in the 3rd quarter valued at approximately $733,805,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. JMP Securities reissued a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. DA Davidson raised their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Nine investment 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 presently has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Stock Performance

NYSE CRM opened at $294.72 on Monday. The firm has a 50-day moving average price of $273.02 and a two-hundred day moving average price of $263.18. Salesforce, Inc. has a 12-month low of $204.69 and a 12-month high of $318.71. The company has a market capitalization of $281.75 billion, a P/E ratio of 51.26, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 annualized dividend and a yield of 0.54%. Salesforce’s dividend payout ratio is 27.83%.

Insider Buying and Selling

In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders sold 148,303 shares of company stock valued at $42,024,385 over the last quarter. 3.20% of the stock is owned by company insiders.

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.