Salesforce, Inc. (NYSE:CRM) Stock Position Raised by ATOMVEST Ltd

ATOMVEST Ltd grew its stake in Salesforce, Inc. (NYSE:CRM) by 97.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,300 shares of the CRM provider’s stock after buying an additional 43,100 shares during the period. Salesforce makes up about 40.5% of ATOMVEST Ltd’s holdings, making the stock its biggest holding. ATOMVEST Ltd’s holdings in Salesforce were worth $29,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Foundations Investment Advisors LLC grew its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce during the 3rd quarter valued at $1,215,000. Athena Investment Management bought a new stake in Salesforce in the 4th quarter worth $236,000. Highland Capital Management LLC purchased a new position in shares of Salesforce in the fourth quarter valued at about $4,321,000. Finally, Geode Capital Management LLC raised its stake in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 2.0 %

Shares of NYSE CRM opened at $286.26 on Tuesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $275.10 billion, a P/E ratio of 47.08, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a 50-day moving average price of $312.85 and a 200-day moving average price of $310.64.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRM shares. Macquarie reaffirmed a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Buying and Selling

In other news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,541 shares of company stock valued at $11,599,604. Company insiders own 3.20% of the company’s stock.

Salesforce 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.