Latest Stocks: salesforce.com, inc. (CRM) Position Boosted by Pictet Asset Management Ltd.

Latest Stocks: salesforce.com, inc. (CRM) Position Boosted by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. increased its stake in shares of salesforce.com, inc. (NYSE:CRM) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,159,329 shares of the CRM provider’s stock after buying an additional 98,603 shares during the period. Pictet Asset Management Ltd. owned approximately 0.16% of salesforce.com, inc. worth $95,633,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. APG Asset Management N.V. raised its position in salesforce.com, inc. by 2.1% in the third quarter. APG Asset Management N.V. now owns 1,602,681 shares of the CRM provider’s stock valued at $114,319,000 after buying an additional 33,349 shares during the period. Kornitzer Capital Management Inc. KS raised its position in salesforce.com, inc. by 2.8% in the third quarter. Kornitzer Capital Management Inc. KS now owns 172,981 shares of the CRM provider’s stock valued at $12,339,000 after buying an additional 4,665 shares during the period. Seven Bridges Advisors LLC raised its position in salesforce.com, inc. by 2.7% in the third quarter. Seven Bridges Advisors LLC now owns 9,699 shares of the CRM provider’s stock valued at $692,000 after buying an additional 256 shares during the period. Mizuho Trust & Banking Co. Ltd. raised its position in salesforce.com, inc. by 1.7% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,026,327 shares of the CRM provider’s stock valued at $73,208,000 after buying an additional 16,976 shares during the period. Finally, Seatown Holdings Pte. Ltd. bought a new position in salesforce.com, inc. during the third quarter valued at approximately $10,078,000. 83.13% of the stock is owned by institutional investors.

Shares of salesforce.com, inc. (NYSE:CRM) opened at 91.38 on Tuesday. The company has a 50 day moving average of $87.47 and a 200 day moving average of $80.27. salesforce.com, inc. has a 1-year low of $66.43 and a 1-year high of $91.88. The company has a market cap of $65.08 billion, a PE ratio of 483.49 and a beta of 1.42.

Several equities analysts have recently commented on CRM shares. Zacks Investment Research raised salesforce.com, inc. from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Monday, February 6th. Needham & Company LLC started coverage on salesforce.com, inc. in a report on Wednesday, February 15th. They set a “hold” rating for the company. Vetr lowered salesforce.com, inc. from a “strong-buy” rating to a “buy” rating and set a $91.31 target price for the company. in a report on Thursday, February 16th. Wedbush reissued an “outperform” rating and issued a $98.00 price objective on shares of salesforce.com, inc. in a report on Thursday, February 16th. Finally, Cowen and Company reissued an “outperform” rating and issued a $95.00 price objective on shares of salesforce.com, inc. in a report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $96.69. In other salesforce.com, inc. news, insider Amy E. Weaver sold 5,650 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $82.96, for a total value of $468,724.00. Following the completion of the sale, the insider now owns 23,376 shares of the company’s stock, valued at approximately $1,939,272.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $91.50, for a total transaction of $915,000.00. Following the completion of the sale, the chairman now directly owns 34,195,300 shares of the company’s stock, valued at approximately $3,128,869,950. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,559,840 shares of company stock worth $135,875,463. 6.70% of the stock is owned by company insiders.

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