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

ATOMVEST Ltd increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 97.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,300 shares of the CRM provider's stock after purchasing an additional 43,100 shares during the quarter. Salesforce accounts for 40.5% of ATOMVEST Ltd's holdings, making the stock its biggest position. ATOMVEST Ltd's holdings in Salesforce were worth $29,187,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. United Bank raised its position in Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider's stock valued at $1,999,000 after buying an additional 76 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Salesforce by 1.2% in the third quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider's stock valued at $2,415,000 after purchasing an additional 105 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Salesforce by 38.6% in the third quarter. Larson Financial Group LLC now owns 4,269 shares of the CRM provider's stock valued at $1,168,000 after purchasing an additional 1,188 shares during the last quarter. Cahill Financial Advisors Inc. lifted its position in shares of Salesforce by 26.4% in the third quarter. Cahill Financial Advisors Inc. now owns 1,015 shares of the CRM provider's stock worth $278,000 after purchasing an additional 212 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider's stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have commented on CRM. Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $362.74.

Salesforce Trading Down 0.9 %

CRM stock traded down $2.54 during midday trading on Thursday, hitting $278.45. The stock had a trading volume of 1,927,712 shares, compared to its average volume of 6,871,920. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average price of $311.35 and a two-hundred day moving average price of $310.74. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market cap of $267.59 billion, a P/E ratio of 45.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Millham sold 3,937 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This represents a 41.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,875 shares of company stock valued at $13,580,649. Corporate 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.