TD Asset Management Inc Sells 62,469 Shares of Salesforce, Inc. (NYSE:CRM)

TD Asset Management Inc lessened its position in Salesforce, Inc. (NYSE:CRM) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 745,524 shares of the CRM provider’s stock after selling 62,469 shares during the period. TD Asset Management Inc’s holdings in Salesforce were worth $191,674,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CRM. Gilbert & Cook Inc. grew its holdings in Salesforce by 6.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after acquiring an additional 366 shares during the last quarter. Aveo Capital Partners LLC lifted its position in shares of Salesforce by 44.7% in the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after purchasing an additional 496 shares during the period. 9258 Wealth Management LLC lifted its position in shares of Salesforce by 24.0% in the 4th quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after purchasing an additional 1,253 shares during the period. Gryphon Financial Partners LLC lifted its position in shares of Salesforce by 32.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after purchasing an additional 970 shares during the period. Finally, Wealthspire Advisors LLC lifted its position in shares of Salesforce by 15.4% in the 4th quarter. Wealthspire Advisors LLC now owns 7,520 shares of the CRM provider’s stock worth $1,979,000 after purchasing an additional 1,006 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $241.74, for a total value of $3,626,100.00. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, June 10th. The stock was sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was 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 in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,692 shares of company stock valued at $21,006,957. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRM shares. Loop Capital lifted their price target on shares of Salesforce from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Barclays lowered their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Jefferies Financial Group lowered their price target on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Mizuho lowered their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $304.41.

Salesforce Trading Down 0.6 %

CRM stock opened at $246.16 on Friday. The firm’s fifty day simple moving average is $254.78 and its two-hundred day simple moving average is $270.11. The stock has a market capitalization of $238.53 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Salesforce, Inc. will post 7.52 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

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.