Yahav Achim Ve Achayot Provident Funds Management Co Ltd. Purchases New Shares in Salesforce Inc. (NYSE:CRM)

Key Points

• Yahav Achim Ve Achayot Provident Funds Management Co Ltd. has acquired 2,907 new shares of Salesforce Inc., valued at approximately $780,000, making it 3.2% of their investment portfolio.
• Institutional investors currently hold over 80% of Salesforce's stock, with recent significant boosts from firms like DZ BANK AG and GAMMA Investing LLC.
• Salesforce's stock has fluctuated between a fifty-two week low of $230.00 and a high of $369.00, with shares valued at $240.63 as of the latest trading session.

Yahav Achim Ve Achayot Provident Funds Management Co Ltd. purchased a new position in Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,907 shares of the CRM provider's stock, valued at approximately $780,000. Salesforce makes up 3.2% of Yahav Achim Ve Achayot Provident Funds Management Co Ltd.'s investment portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Salesforce by 926.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares during the period. GAMMA Investing LLC lifted its position in shares of Salesforce by 30,456.9% in the first quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after purchasing an additional 3,789,147 shares in the last quarter. Northern Trust Corp lifted its position in shares of Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Salesforce by 1,744.0% during the first quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider's stock worth $488,486,000 after purchasing an additional 1,721,550 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after purchasing an additional 1,683,233 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $248.40, for a total value of $558,900.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,958,834,236.40. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 46,479 shares of company stock worth $12,457,591 over the last three months. Company insiders own 3.20% of the company's stock.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $275.00 target price on shares of Salesforce in a research report on Monday, July 14th. Northland Securities cut their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Cantor Fitzgerald downgraded Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday, July 10th. Piper Sandler upped their target price on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company lifted their price target on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $240.63 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The business's fifty day moving average price is $263.97 and its two-hundred day moving average price is $280.10. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $230.04 billion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 2.26 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. As a group, analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

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.

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