Atom Investors LP Sells 8,661 Shares of Salesforce, Inc. (NYSE:CRM)

Atom Investors LP reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 39.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,179 shares of the CRM provider’s stock after selling 8,661 shares during the quarter. Atom Investors LP’s holdings in Salesforce were worth $3,607,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRM. Veritas Asset Management LLP acquired a new stake in Salesforce in the third quarter valued at approximately $733,805,000. Massachusetts Financial Services Co. MA raised its holdings in Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. AMF Tjanstepension AB grew its holdings in Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after acquiring an additional 1,139,472 shares during the last quarter. KBC Group NV increased its position in Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. TD Cowen increased their price objective on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Bank of America raised their price target on shares of Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Truist Financial increased their price objective on shares of Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $341.89.

Salesforce Price Performance

Shares of NYSE CRM opened at $329.99 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $302.12 and a two-hundred day simple moving average of $270.49. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The firm has a market cap of $315.47 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insiders Place Their Bets

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. The trade was a 75.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,510 shares of company stock worth $42,475,538 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.