ATOMVEST Ltd Has $12.10 Million Holdings in Salesforce, Inc. (NYSE:CRM)

ATOMVEST Ltd raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 76.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,200 shares of the CRM provider’s stock after acquiring an additional 19,200 shares during the period. Salesforce comprises approximately 17.2% of ATOMVEST Ltd’s investment portfolio, making the stock its 4th largest holding. ATOMVEST Ltd’s holdings in Salesforce were worth $12,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Prosperity Financial Group Inc. boosted its stake in shares of Salesforce by 4.7% in the 3rd quarter. Prosperity Financial Group Inc. now owns 1,024 shares of the CRM provider’s stock worth $280,000 after buying an additional 46 shares during the last quarter. Bank of Hawaii boosted its position in Salesforce by 1.7% in the third quarter. Bank of Hawaii now owns 4,179 shares of the CRM provider’s stock worth $1,144,000 after purchasing an additional 69 shares during the last quarter. Fisher Asset Management LLC grew its stake in Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Salesforce by 12.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 216,872 shares of the CRM provider’s stock valued at $59,360,000 after purchasing an additional 23,365 shares during the last quarter. Finally, Marco Investment Management LLC raised its stake in shares of Salesforce by 1.5% during the 3rd quarter. Marco Investment Management LLC now owns 53,404 shares of the CRM provider’s stock worth $14,617,000 after purchasing an additional 806 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 1.9 %

Shares of CRM opened at $342.02 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The firm has a 50 day moving average price of $294.61 and a 200-day moving average price of $268.53. The firm has a market cap of $326.97 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 3.10 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted 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 analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,991 shares of company stock worth $43,333,238. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CRM shares. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Stifel Nicolaus raised their target price on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Citigroup upped their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $336.37.

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.