Toronto Dominion Bank Sells 50,359 Shares of Salesforce, Inc. (NYSE:CRM)

Toronto Dominion Bank lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 686,100 shares of the CRM provider’s stock after selling 50,359 shares during the quarter. Toronto Dominion Bank owned approximately 0.07% of Salesforce worth $187,792,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce in the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC raised its holdings in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. AIA Group Ltd increased its holdings in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on CRM. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Piper Sandler boosted their price objective on Salesforce from $325.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Robert W. Baird raised their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Guggenheim reaffirmed a “neutral” rating on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Scotiabank increased their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $372.86.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The trade was a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction 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 transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,498 shares of company stock valued at $40,983,349 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.8 %

Shares of NYSE:CRM opened at $348.84 on Wednesday. The business has a fifty day simple moving average of $311.53 and a 200 day simple moving average of $273.32. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $333.84 billion, a P/E ratio of 57.38, a P/E/G ratio of 3.27 and a beta of 1.30. 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 released its quarterly 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 return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous 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. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. Salesforce’s payout ratio is 26.32%.

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.