Robeco Institutional Asset Management B.V. Buys 559,880 Shares of Salesforce Inc. (NYSE:CRM)

Robeco Institutional Asset Management B.V. raised its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 61.1% during the 1st quarter, according to 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 investment portfolio, making the stock its 20th biggest holding. Robeco Institutional Asset Management B.V. owned approximately 0.15% of Salesforce worth $396,258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Athena Investment Management bought a new stake in Salesforce in the fourth quarter valued at approximately $236,000. Jag Capital Management LLC raised its stake in Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after buying an additional 22,797 shares during the period. Atlantic Union Bankshares Corp raised its stake in Salesforce by 2.7% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after buying an additional 723 shares during the period. Millstone Evans Group LLC bought a new stake in Salesforce in the fourth quarter valued at approximately $823,000. Finally, Heartland Bank & Trust Co grew its position in shares of Salesforce by 117.2% in the first quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock valued at $1,605,000 after purchasing an additional 3,227 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. BMO Capital Markets decreased their target price on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 27th. Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Oppenheimer reaffirmed an "outperform" rating and issued a $370.00 target price on shares of Salesforce in a research report on Tuesday, June 10th. Finally, Scotiabank decreased their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $349.08.

Salesforce Price Performance

Shares of CRM stock traded up $1.98 during trading hours on Friday, reaching $272.72. The company's stock had a trading volume of 21,736,713 shares, compared to its average volume of 6,553,599. The firm's 50 day simple moving average is $269.86 and its 200-day simple moving average is $295.19. The company has a market capitalization of $260.72 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 2.45 and a beta of 1.38. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week 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.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the prior year, the company earned $2.44 EPS. Salesforce's revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently declared 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. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Insider Activity

In related news, insider Miguel Milano sold 405 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the transaction, the insider now directly owns 9,933 shares of the company's stock, valued at $2,605,922.55. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Oscar Munoz bought 3,882 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average cost of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares in the company, valued at $3,046,967.04. The trade was a 48.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 26,284 shares of company stock worth $6,996,762. Insiders own 3.20% of the company's stock.

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.