Robinhood Asset Management LLC Buys Shares of 27,802 Salesforce Inc. $CRM

Robinhood Asset Management LLC purchased a new position in shares of Salesforce Inc. (NYSE:CRM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 27,802 shares of the CRM provider’s stock, valued at approximately $7,365,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summa Corp. grew its holdings in Salesforce by 52.2% during the 4th quarter. Summa Corp. now owns 2,709 shares of the CRM provider’s stock worth $718,000 after acquiring an additional 929 shares during the period. Persium Advisors LLC lifted its stake in shares of Salesforce by 7.9% in the 4th quarter. Persium Advisors LLC now owns 2,679 shares of the CRM provider’s stock valued at $710,000 after purchasing an additional 195 shares during the period. Hudson Capital Management LLC grew its stake in shares of Salesforce by 6.1% during the fourth quarter. Hudson Capital Management LLC now owns 19,725 shares of the CRM provider’s stock worth $5,225,000 after purchasing an additional 1,132 shares during the period. Talbot Financial LLC grew its stake in shares of Salesforce by 1.0% during the fourth quarter. Talbot Financial LLC now owns 90,428 shares of the CRM provider’s stock worth $23,955,000 after purchasing an additional 938 shares during the period. Finally, Apella Capital LLC increased its holdings in Salesforce by 2.5% in the fourth quarter. Apella Capital LLC now owns 5,371 shares of the CRM provider’s stock valued at $1,423,000 after purchasing an additional 132 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. DA Davidson reduced their target price on Salesforce from $235.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Mizuho reduced their price objective on shares of Salesforce from $280.00 to $265.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. UBS Group lowered their target price on shares of Salesforce from $260.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Jefferies Financial Group cut their target price on shares of Salesforce from $375.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Royal Bank Of Canada decreased their price target on shares of Salesforce from $290.00 to $210.00 and set a “sector perform” rating for the company in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.21.

Salesforce Stock Down 1.1%

NYSE:CRM opened at $185.12 on Tuesday. The firm has a market capitalization of $170.86 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. Salesforce Inc. has a twelve month low of $174.57 and a twelve month high of $296.05. The stock’s 50 day moving average price is $193.66 and its two-hundred day moving average price is $228.25. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, beating the consensus estimate of $3.05 by $0.76. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $11.18 billion. During the same quarter in the prior year, the firm posted $2.78 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Equities research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 9th will be paid a $0.44 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, April 9th. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce’s dividend payout ratio is presently 21.25%.

Salesforce declared that its Board of Directors has authorized a stock buyback plan on Monday, March 16th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the CRM provider to repurchase up to 14.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Laura Alber bought 2,571 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $194.58 per share, with a total value of $500,265.18. Following the completion of the acquisition, the director owned 9,530 shares of the company’s stock, valued at $1,854,347.40. This represents a 36.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Blair Kirk bought 2,570 shares of Salesforce stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $194.62 per share, with a total value of $500,173.40. Following the transaction, the director owned 13,689 shares of the company’s stock, valued at $2,664,153.18. This trade represents a 23.11% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.00% of the company’s stock.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.