Pictet Asset Management Holding SA Has $1.21 Billion Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Pictet Asset Management Holding SA cut its stake in Salesforce, Inc. (NYSE:CRM) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,605,625 shares of the CRM provider’s stock after selling 113,765 shares during the quarter. Salesforce comprises about 1.3% of Pictet Asset Management Holding SA’s holdings, making the stock its 8th largest position. Pictet Asset Management Holding SA’s holdings in Salesforce were worth $1,205,469,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CRM. Foundations Investment Advisors LLC lifted its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce in the 3rd quarter worth approximately $1,215,000. Athena Investment Management bought a new position in Salesforce in the 4th quarter valued at $236,000. Highland Capital Management LLC purchased a new position in shares of Salesforce during the 4th quarter valued at $4,321,000. Finally, Geode Capital Management LLC increased its holdings in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last three months. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. Macquarie reissued a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Wells Fargo & Company cut their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus cut their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Barclays increased their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Down 1.1 %

Shares of Salesforce stock opened at $277.88 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $267.04 billion, a P/E ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35. The company’s fifty day simple moving average is $310.49 and its two-hundred day simple moving average is $310.51.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 25.16%.

About Salesforce

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.