Psagot Value Holdings Ltd. Israel Acquires 171 Shares of Salesforce, Inc. (NYSE:CRM)

Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,178 shares of the CRM provider’s stock after purchasing an additional 171 shares during the quarter. Salesforce accounts for 1.2% of Psagot Value Holdings Ltd. Israel’s holdings, making the stock its 24th largest position. Psagot Value Holdings Ltd. Israel’s holdings in Salesforce were worth $5,558,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CRM. Guardian Capital Advisors LP boosted its holdings in shares of Salesforce by 0.5% in the fourth quarter. Guardian Capital Advisors LP now owns 9,302 shares of the CRM provider’s stock worth $2,212,000 after acquiring an additional 50 shares during the period. Accretive Wealth Partners LLC boosted its holdings in shares of Salesforce by 1.1% in the fourth quarter. Accretive Wealth Partners LLC now owns 4,674 shares of the CRM provider’s stock worth $1,188,000 after acquiring an additional 52 shares during the period. MCIA Inc boosted its holdings in shares of Salesforce by 0.5% in the first quarter. MCIA Inc now owns 10,681 shares of the CRM provider’s stock worth $2,088,000 after acquiring an additional 52 shares during the period. First National Bank Sioux Falls boosted its holdings in shares of Salesforce by 4.0% in the first quarter. First National Bank Sioux Falls now owns 1,366 shares of the CRM provider’s stock worth $290,000 after acquiring an additional 53 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Salesforce by 1.7% in the first quarter. AdvisorNet Financial Inc now owns 3,262 shares of the CRM provider’s stock worth $693,000 after acquiring an additional 53 shares during the period. 77.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $167.94, for a total transaction of $386,262.00. Following the sale, the chief executive officer now directly owns 28,761,368 shares of the company’s stock, valued at approximately $4,830,184,141.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Bret Steven Taylor sold 1,033 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total value of $176,054.19. Following the sale, the chief executive officer now directly owns 932,210 shares of the company’s stock, valued at approximately $158,876,550.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $167.94, for a total value of $386,262.00. Following the completion of the sale, the chief executive officer now directly owns 28,761,368 shares in the company, valued at $4,830,184,141.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,149 shares of company stock valued at $12,800,383. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. Raymond James cut their price target on Salesforce from $250.00 to $225.00 in a report on Thursday, August 25th. Cowen dropped their price objective on Salesforce from $225.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, August 25th. Barclays dropped their price objective on Salesforce from $218.00 to $202.00 and set an “overweight” rating for the company in a research note on Thursday, August 25th. UBS Group dropped their price objective on Salesforce from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th. Finally, Piper Sandler dropped their price objective on Salesforce from $220.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, August 25th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.11.

Salesforce Stock Performance

Salesforce stock opened at $162.59 on Friday. The stock’s 50 day simple moving average is $174.64 and its two-hundred day simple moving average is $181.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $162.59 billion, a price-to-earnings ratio of 301.09, a PEG ratio of 4.16 and a beta of 1.12. Salesforce, Inc. has a fifty-two week low of $150.48 and a fifty-two week high of $311.75.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings data on Wednesday, August 24th. The CRM provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. As a group, analysts expect that Salesforce, Inc. will post 2.2 earnings per share for the current fiscal year.

Salesforce declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 24th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the CRM provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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