Bank Julius Baer & Co. Ltd Zurich Trims Holdings in Salesforce, Inc. (NYSE:CRM)

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,687 shares of the CRM provider’s stock after selling 4,908 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Salesforce were worth $114,760,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRM. State Street Corp lifted its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC increased its position in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC raised its stake in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Salesforce by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after acquiring an additional 153,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $282.74 on Friday. The business’s 50-day simple moving average is $323.68 and its two-hundred day simple moving average is $308.18. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $270.58 billion, a PE ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated 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 sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Bank of America reduced their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $365.62.

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.