TD Asset Management Inc. Boosts Stake in Salesforce, Inc. (NYSE:CRM)

TD Asset Management Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 9.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 822,377 shares of the CRM provider’s stock after acquiring an additional 72,773 shares during the quarter. TD Asset Management Inc.’s holdings in Salesforce were worth $274,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of CRM. Raymond James Financial Inc. purchased a new position in Salesforce in the fourth quarter worth $1,173,564,000. Jennison Associates LLC raised its stake in shares of Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB boosted its holdings in shares of Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the last quarter. Proficio Capital Partners LLC grew its position in Salesforce by 56,872.2% during the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock valued at $311,998,000 after buying an additional 931,566 shares during the period. Finally, State Street Corp increased its holdings in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CRM shares. Stifel Nicolaus reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Northland Securities restated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,541 shares of company stock valued at $11,599,604 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 2.0 %

Shares of NYSE:CRM opened at $286.26 on Tuesday. The firm has a market capitalization of $275.10 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a fifty day moving average of $312.85 and a 200 day moving average of $310.64.

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.