Atomi Financial Group Inc. Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Atomi Financial Group Inc. grew its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,999 shares of the CRM provider's stock after purchasing an additional 2,589 shares during the period. Atomi Financial Group Inc.'s holdings in Salesforce were worth $3,284,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. lifted its stake in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider's stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter valued at about $33,000. Clear Investment Research LLC lifted its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the 2nd quarter valued at about $33,000. Institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In related news, insider Parker Harris sold 2,800 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company's stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Parker Harris sold 2,800 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company's stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 8,427 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,412 shares of company stock valued at $20,071,723. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of NYSE CRM traded up $7.00 during midday trading on Tuesday, hitting $291.57. 5,209,719 shares of the stock traded hands, compared to its average volume of 6,527,652. The firm has a 50-day moving average of $259.05 and a two-hundred day moving average of $264.06. The firm has a market capitalization of $282.53 billion, a P/E ratio of 51.57, a PEG ratio of 2.39 and a beta of 1.30. 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 one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company's revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce's dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRM. Citigroup boosted their target price on Salesforce from $260.00 to $290.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Truist Financial reaffirmed a "buy" rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. DA Davidson upped their price target on Salesforce from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. Oppenheimer upped their price target on Salesforce from $280.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Finally, UBS Group upped their price target on Salesforce from $250.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $310.74.

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.