Pictet North America Advisors SA Sells 1,461 Shares of Salesforce Inc. $CRM

Key Points

• Pictet North America Advisors SA reduced its stake in Salesforce Inc. by 14.2%, selling 1,461 shares and owning 8,826 shares worth approximately $2.4 million.
• Salesforce's latest earnings report revealed earnings of $2.91 per share, surpassing analysts' expectations, with revenue of $10.24 billion, reflecting a 9.8% year-over-year growth.
• The company declared a quarterly dividend of $0.416 per share, set to be paid out on October 9th, with an annualized dividend yield of 0.7%.

Pictet North America Advisors SA trimmed its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 14.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 8,826 shares of the CRM provider's stock after selling 1,461 shares during the quarter. Pictet North America Advisors SA's holdings in Salesforce were worth $2,407,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Salesforce by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after buying an additional 1,383,942 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Salesforce by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider's stock worth $2,484,616,000 after acquiring an additional 600,386 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Salesforce by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock valued at $2,419,037,000 after purchasing an additional 437,435 shares during the last quarter. Nuveen LLC acquired a new position in Salesforce during the 1st quarter worth approximately $2,039,196,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Salesforce by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider's stock valued at $1,707,316,000 after buying an additional 295,681 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRM shares. BMO Capital Markets dropped their target price on Salesforce from $335.00 to $280.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. Barclays dropped their price objective on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Wells Fargo & Company reduced their target price on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a report on Thursday, September 4th. Westpark Capital reaffirmed a "buy" rating and set a $320.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $332.58.

Salesforce Stock Performance

CRM stock opened at $249.64 on Tuesday. The business has a 50 day moving average of $250.58 and a 200-day moving average of $262.38. The firm has a market cap of $237.66 billion, a PE ratio of 36.28, a P/E/G ratio of 2.25 and a beta of 1.22. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the previous year, the company earned $2.56 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, sell-side analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be given a $0.416 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's payout ratio is 24.13%.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $245.09, for a total value of $551,452.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,919,406,936.39. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Blair Kirk bought 3,400 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the purchase, the director directly owned 3,824 shares of the company's stock, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 74,250 shares of company stock worth $18,844,155. Company insiders own 3.00% of the company's stock.

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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