TD Private Client Wealth LLC Has $9.82 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

TD Private Client Wealth LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 74.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,384 shares of the CRM provider’s stock after purchasing an additional 12,501 shares during the quarter. TD Private Client Wealth LLC’s holdings in Salesforce were worth $9,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Foundations Investment Advisors LLC raised its stake in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new position in Salesforce during the third quarter worth about $1,215,000. Athena Investment Management acquired a new position in Salesforce during the fourth quarter worth about $236,000. Highland Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth about $4,321,000. Finally, Geode Capital Management LLC raised its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRM. Barclays boosted their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Guggenheim reissued a “sell” rating and set a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $362.74.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 16,487 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This represents a 90.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $279.07 on Friday. 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, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock’s 50 day moving average is $314.23 and its 200-day moving average is $309.29. The firm has a market capitalization of $268.19 billion, a price-to-earnings ratio of 45.90, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce 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.