Pictet North America Advisors SA Acquires 201 Shares of Salesforce, Inc. (NYSE:CRM)

Pictet North America Advisors SA grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,949 shares of the CRM provider’s stock after purchasing an additional 201 shares during the quarter. Pictet North America Advisors SA’s holdings in Salesforce were worth $3,326,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at $30,000. Collier Financial purchased a new stake in shares of Salesforce in the 4th quarter worth $32,000. Finally, Godsey & Gibb Inc. grew its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Up 1.2 %

CRM stock opened at $330.19 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $315.99 billion, a P/E ratio of 54.31, a PEG ratio of 2.66 and a beta of 1.31. The company’s 50-day simple moving average is $337.91 and its 200-day simple moving average is $302.13.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. DA Davidson upped their price objective on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Bank of America increased their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, UBS Group lifted their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

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.