Salesforce Inc. (NYSE:CRM) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,427,566 shares of the CRM provider's stock after selling 178,059 shares during the quarter. Salesforce accounts for about 1.0% of Pictet Asset Management Holding SA's portfolio, making the stock its 15th largest position. Pictet Asset Management Holding SA owned approximately 0.36% of Salesforce worth $919,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth about $27,000. Capital A Wealth Management LLC boosted its stake in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. Abound Financial LLC acquired a new position in Salesforce in the 1st quarter worth about $31,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Salesforce in the 4th quarter worth about $35,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM traded up $2.52 during trading on Friday, reaching $262.40. The company's stock had a trading volume of 6,376,432 shares, compared to its average volume of 6,563,887. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The company's fifty day moving average price is $270.45 and its 200-day moving average price is $286.17. The company has a market capitalization of $250.85 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 2.38 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

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

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. Salesforce's dividend payout ratio is currently 25.98%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $260.30, for a total value of $585,675.00. Following the completion of the transaction, the chief executive officer directly owned 11,955,566 shares in the company, valued at approximately $3,112,033,829.80. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R David Schmaier sold 4,586 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $1,163,284.76. Following the sale, the insider directly owned 33,273 shares of the company's stock, valued at $8,440,029.18. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,819 shares of company stock valued at $9,111,823. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $275.00 target price on shares of Salesforce in a report on Monday, July 14th. The Goldman Sachs Group upped their price target on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and issued a $404.00 price target (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Citigroup dropped their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Finally, Canaccord Genuity Group dropped their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Company 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.