Salesforce, Inc. (NYSE:CRM) Shares Sold by Bank Pictet & Cie Asia Ltd.

Bank Pictet & Cie Asia Ltd. reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 41.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,142 shares of the CRM provider’s stock after selling 3,630 shares during the period. Bank Pictet & Cie Asia Ltd.’s holdings in Salesforce were worth $1,322,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Capital World Investors raised its holdings in Salesforce by 2.4% in the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after acquiring an additional 457,463 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after acquiring an additional 752,566 shares in the last quarter. Capital Research Global Investors raised its holdings in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors raised its holdings in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Parker Harris sold 1,400 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $29,585,731.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,936 shares of company stock valued at $51,158,915. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE CRM opened at $254.52 on Wednesday. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $248.27 and a 200-day moving average of $273.40. The firm has a market cap of $246.63 billion, a price-to-earnings ratio of 45.78, a PEG ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. Salesforce’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. Salesforce’s payout ratio is presently 28.78%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group cut their price target on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Raymond James reaffirmed a “strong-buy” rating and issued a $325.00 price target (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Evercore ISI cut their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Truist Financial reiterated a “buy” rating and issued a $300.00 price objective (down from $360.00) on shares of Salesforce in a report on Thursday, May 30th. Finally, BMO Capital Markets decreased their price target on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

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.