Cohen Investment Advisors LLC Has $70.43 Million Position in Salesforce Inc. (NYSE:CRM)

Cohen Investment Advisors LLC increased its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 2,238.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,462 shares of the CRM provider's stock after acquiring an additional 251,240 shares during the quarter. Salesforce accounts for about 1.8% of Cohen Investment Advisors LLC's holdings, making the stock its 17th largest position. Cohen Investment Advisors LLC's holdings in Salesforce were worth $70,434,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. RBA Wealth Management LLC increased its stake in Salesforce by 1.7% in the 1st quarter. RBA Wealth Management LLC now owns 16,730 shares of the CRM provider's stock valued at $4,490,000 after buying an additional 273 shares during the period. Joel Isaacson & Co. LLC increased its stake in Salesforce by 18.7% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,888 shares of the CRM provider's stock valued at $775,000 after buying an additional 454 shares during the period. TBH Global Asset Management LLC increased its stake in Salesforce by 1.6% in the 1st quarter. TBH Global Asset Management LLC now owns 3,313 shares of the CRM provider's stock valued at $889,000 after buying an additional 51 shares during the period. Aljian Capital Management LLC increased its stake in Salesforce by 0.4% in the 1st quarter. Aljian Capital Management LLC now owns 16,571 shares of the CRM provider's stock valued at $4,447,000 after buying an additional 72 shares during the period. Finally, Convergence Financial LLC increased its stake in Salesforce by 6.2% in the 1st quarter. Convergence Financial LLC now owns 6,148 shares of the CRM provider's stock valued at $1,650,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

CRM traded up $1.98 during midday trading on Friday, reaching $272.72. 21,736,713 shares of the company's stock were exchanged, compared to its average volume of 6,529,239. The firm has a market capitalization of $260.72 billion, a price-to-earnings ratio of 42.68, a price-to-earnings-growth ratio of 2.48 and a beta of 1.38. 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 Inc. has a one year low of $230.00 and a one year high of $369.00. The business has a 50-day simple moving average of $270.38 and a two-hundred day simple moving average of $294.25.

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, topping analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. As a group, research analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is 25.98%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank Of Canada lowered shares of Salesforce from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $420.00 to $275.00 in a research note on Thursday, May 29th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Piper Sandler upped their price objective on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Macquarie reiterated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Finally, Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Two 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 issued a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Insiders Place Their Bets

In other news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $257.28 per share, with a total value of $998,760.96. Following the acquisition, the director now owns 11,843 shares of the company's stock, valued at $3,046,967.04. This represents a 48.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 26,284 shares of company stock worth $6,996,762 over the last quarter. Company insiders own 3.20% of the company's stock.

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.