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Harel Insurance Investments & Financial Services Ltd. Has $39.79 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

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Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 58.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,282 shares of the CRM provider's stock after buying an additional 54,815 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Salesforce were worth $39,793,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the 4th quarter worth $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the 4th quarter valued at about $27,000. Wood Tarver Financial Group LLC purchased a new position in Salesforce in the 4th quarter valued at about $35,000. VSM Wealth Advisory LLC purchased a new position in Salesforce in the 4th quarter valued at about $45,000. Finally, Graney & King LLC purchased a new position in Salesforce in the 4th quarter valued at about $54,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 1,142 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $299,603.70. Following the transaction, the insider owned 136,824 shares of the company's stock, valued at approximately $35,895,776.40. This represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total value of $613,080.00. Following the transaction, the chief executive officer directly owned 11,862,457 shares in the company, valued at approximately $3,232,282,283.36. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,534 shares of company stock worth $7,609,842. Insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $2.37 during trading on Friday, reaching $271.58. The company's stock had a trading volume of 5,031,804 shares, compared to its average volume of 6,543,873. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The business's fifty day moving average price is $272.28 and its 200-day moving average price is $291.78. The firm has a market cap of $259.63 billion, a price-to-earnings ratio of 42.50, a price-to-earnings-growth ratio of 2.47 and a beta of 1.36. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. Salesforce's dividend payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price objective (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. BMO Capital Markets cut their target price on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 27th. Finally, Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $349.08.

Check Out Our Latest Stock Report on CRM

Salesforce Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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