Roberts Wealth Advisors LLC Has $4.32 Million Stock Position in Salesforce Inc. (NYSE:CRM)

Roberts Wealth Advisors LLC boosted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 45.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,106 shares of the CRM provider's stock after purchasing an additional 5,027 shares during the period. Salesforce comprises 1.3% of Roberts Wealth Advisors LLC's holdings, making the stock its 26th largest position. Roberts Wealth Advisors LLC's holdings in Salesforce were worth $4,322,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter valued at about $236,000. Jag Capital Management LLC raised its holdings in Salesforce by 2,507.9% in the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after acquiring an additional 22,797 shares during the period. Atlantic Union Bankshares Corp raised its holdings in Salesforce by 2.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after acquiring an additional 723 shares during the period. Dash Acquisitions Inc. raised its holdings in Salesforce by 2.6% in the 4th quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock valued at $21,785,000 after acquiring an additional 1,525 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Salesforce in the 4th quarter valued at about $823,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRM shares. Royal Bank Of Canada cut shares of Salesforce from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $420.00 to $275.00 in a report on Thursday, May 29th. Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Macquarie reissued a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. UBS Group set a $404.00 price target on shares of Salesforce and gave the company an "overweight" rating in a report on Wednesday. Finally, Barclays lowered their target price on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. 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, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $349.08.

Salesforce Stock Performance

Shares of Salesforce stock opened at $258.98 on Friday. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $247.59 billion, a P/E ratio of 40.53, a P/E/G ratio of 2.35 and a beta of 1.38. The company's 50 day moving average price is $268.39 and its two-hundred day moving average price is $298.23.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the business posted $2.44 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 705 shares of Salesforce stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the transaction, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,111 shares of company stock worth $9,299,283. Company 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.

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