Harel Insurance Investments & Financial Services Ltd. Lowers Position in salesforce.com, inc. (NYSE:CRM)

Harel Insurance Investments & Financial Services Ltd. reduced its stake in salesforce.com, inc. (NYSE:CRM) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 189,295 shares of the CRM provider’s stock after selling 3,435 shares during the quarter. salesforce.com makes up 1.2% of Harel Insurance Investments & Financial Services Ltd.’s investment portfolio, making the stock its 25th largest holding. Harel Insurance Investments & Financial Services Ltd.’s holdings in salesforce.com were worth $35,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. AlphaCore Capital LLC bought a new position in salesforce.com in the 1st quarter valued at $28,000. Delta Asset Management LLC TN boosted its stake in salesforce.com by 166.7% in the 1st quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 125 shares during the period. Engrave Wealth Partners LLC bought a new position in salesforce.com in the 4th quarter worth about $32,000. Red Door Wealth Management LLC bought a new position in salesforce.com in the 1st quarter worth about $29,000. Finally, Accurate Investment Solutions Inc. boosted its stake in salesforce.com by 632.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 81.26% of the company’s stock.

NYSE:CRM traded down $3.97 during midday trading on Tuesday, hitting $184.37. The stock had a trading volume of 117,396 shares, compared to its average volume of 5,490,606. salesforce.com, inc. has a one year low of $115.29 and a one year high of $202.82. The company has a market capitalization of $179.19 billion, a price-to-earnings ratio of -1,046.33, a PEG ratio of 9.82 and a beta of 1.08. The stock has a 50-day moving average of $183.62 and a 200 day moving average of $171.41. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. salesforce.com had a positive return on equity of 2.45% and a negative net margin of 0.92%. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. salesforce.com’s revenue was up 30.2% compared to the same quarter last year. On average, sell-side analysts anticipate that salesforce.com, inc. will post 1.13 earnings per share for the current fiscal year.

Several analysts have weighed in on CRM shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a report on Friday, May 29th. Piper Sandler lifted their price target on salesforce.com from $193.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley decreased their price target on salesforce.com from $225.00 to $195.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Oppenheimer lifted their price objective on salesforce.com from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. salesforce.com currently has a consensus rating of “Buy” and an average target price of $200.21.

In other news, COO Bret Steven Taylor sold 4,706 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $160.46, for a total value of $755,124.76. Following the completion of the sale, the chief operating officer now owns 1,085,433 shares of the company’s stock, valued at approximately $174,168,579.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $156.37, for a total value of $1,563,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 605,376 shares of company stock worth $108,362,271 in the last ninety days. Insiders own 4.40% of the company’s stock.

salesforce.com Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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