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

Harel Insurance Investments & Financial Services Ltd. reduced its stake in shares of salesforce.com, inc. (NYSE:CRM) by 60.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,000 shares of the CRM provider’s stock after selling 1,510 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in salesforce.com were worth $158,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its stake in shares of salesforce.com by 17.5% in the 4th quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock valued at $10,006,000 after purchasing an additional 10,864 shares in the last quarter. Piedmont Investment Advisors Inc. increased its stake in shares of salesforce.com by 5.7% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock valued at $12,808,000 after acquiring an additional 5,063 shares during the last quarter. Heritage Investors Management Corp increased its stake in shares of salesforce.com by 10.0% in the 1st quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock valued at $5,452,000 after acquiring an additional 3,143 shares during the last quarter. Putnam FL Investment Management Co. increased its stake in shares of salesforce.com by 0.5% in the 4th quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock valued at $2,930,000 after acquiring an additional 97 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd increased its stake in shares of salesforce.com by 10.7% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 55,648 shares of the CRM provider’s stock valued at $7,622,000 after acquiring an additional 5,398 shares during the last quarter. Institutional investors and hedge funds own 83.20% of the company’s stock.

In related news, insider Mark J. Hawkins sold 15,271 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $165.08, for a total value of $2,520,936.68. Following the sale, the insider now directly owns 25,254 shares of the company’s stock, valued at $4,168,930.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joe Allanson sold 667 shares of salesforce.com stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $159.60, for a total value of $106,453.20. Following the sale, the chief accounting officer now directly owns 31,633 shares in the company, valued at $5,048,626.80. The disclosure for this sale can be found here. Insiders sold 433,681 shares of company stock worth $69,570,035 over the last ninety days. 5.50% of the stock is currently owned by insiders.

A number of brokerages have recently commented on CRM. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $180.00 price target on shares of salesforce.com in a research note on Wednesday, April 17th. Exane BNP Paribas started coverage on salesforce.com in a research report on Friday, March 29th. They issued an “outperform” rating for the company. BNP Paribas started coverage on salesforce.com in a research report on Friday, March 29th. They issued an “outperform” rating for the company. Mizuho started coverage on salesforce.com in a research report on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price objective for the company. Finally, Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $177.82.

Shares of NYSE CRM traded up $3.63 during mid-day trading on Friday, reaching $159.94. The company had a trading volume of 4,453,989 shares, compared to its average volume of 3,612,408. The stock has a market capitalization of $123.28 billion, a P/E ratio of 110.30, a PEG ratio of 5.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. salesforce.com, inc. has a one year low of $113.60 and a one year high of $167.56.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.56 billion. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. During the same period last year, the firm posted $0.35 earnings per share. Equities research analysts forecast that salesforce.com, inc. will post 1.18 earnings per share for the current year.

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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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