Pictet Asset Management SA Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Pictet Asset Management SA raised its position in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,258,132 shares of the CRM provider’s stock after buying an additional 73,293 shares during the quarter. Salesforce comprises approximately 0.8% of Pictet Asset Management SA’s portfolio, making the stock its 19th biggest position. Pictet Asset Management SA owned 0.33% of Salesforce worth $827,989,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. purchased a new position in Salesforce during the fourth quarter valued at $27,000. Financial Enhancement Group LLC raised its position in shares of Salesforce by 589.5% in the 4th quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 112 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Salesforce in the 4th quarter worth about $35,000. MCF Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter worth about $39,000. Finally, McCarthy Asset Management Inc. raised its position in shares of Salesforce by 147.8% in the 3rd quarter. McCarthy Asset Management Inc. now owns 171 shares of the CRM provider’s stock worth $46,000 after purchasing an additional 102 shares during the last quarter. 77.75% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on CRM shares. Stifel Nicolaus lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. Canaccord Genuity Group lowered their price target on Salesforce from $315.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. OTR Global lowered Salesforce to a “positive” rating in a research report on Thursday. Mizuho decreased their target price on Salesforce from $350.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, February 15th. Finally, Cowen decreased their target price on Salesforce from $325.00 to $285.00 in a research report on Monday, February 28th. Seven equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $299.50.

In other news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $165.37, for a total transaction of $380,351.00. Following the sale, the chief executive officer now directly owns 28,926,000 shares of the company’s stock, valued at approximately $4,783,492,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 2,625 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $210.93, for a total value of $553,691.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 139,735 shares of company stock worth $27,822,819. 4.10% of the stock is owned by insiders.

NYSE CRM traded down $0.85 during trading hours on Thursday, reaching $160.42. The company’s stock had a trading volume of 10,182,774 shares, compared to its average volume of 7,433,773. The firm’s 50-day moving average price is $194.82 and its 200-day moving average price is $231.76. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. Salesforce, Inc. has a 1 year low of $154.64 and a 1 year high of $311.75. The company has a market capitalization of $158.87 billion, a price-to-earnings ratio of 106.95, a PEG ratio of 4.83 and a beta of 1.16.

Salesforce (NYSE:CRM – Get Rating) last posted its quarterly earnings results on Tuesday, March 1st. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same period in the previous year, the firm earned $0.54 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 2.1 EPS for the current fiscal year.

Salesforce Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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