Salesforce Inc. $CRM Stake Increased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Salesforce Inc. by 0.4%, owning approximately 775,613 shares valued at $211.5 million as of its latest SEC filing.
• Salesforce reported earnings of $2.91 per share, exceeding analysts' expectations of $2.78, and its quarterly revenue rose by 9.8% year-over-year to $10.24 billion.
• Insiders have recently sold 76,500 shares of Salesforce, but Director David Blair Kirk made a significant investment by purchasing 3,400 shares, increasing his ownership by 801.89%.

TD Asset Management Inc grew its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,613 shares of the CRM provider's stock after purchasing an additional 2,799 shares during the period. TD Asset Management Inc owned approximately 0.08% of Salesforce worth $211,502,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. RFG Advisory LLC lifted its holdings in shares of Salesforce by 18.2% in the second quarter. RFG Advisory LLC now owns 15,602 shares of the CRM provider's stock valued at $4,254,000 after purchasing an additional 2,400 shares in the last quarter. Perfromance Wealth Partners LLC lifted its holdings in shares of Salesforce by 2.3% in the second quarter. Perfromance Wealth Partners LLC now owns 7,469 shares of the CRM provider's stock valued at $2,037,000 after purchasing an additional 171 shares in the last quarter. Naviter Wealth LLC lifted its holdings in shares of Salesforce by 1.4% in the second quarter. Naviter Wealth LLC now owns 9,359 shares of the CRM provider's stock valued at $2,556,000 after purchasing an additional 128 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Salesforce by 9.6% in the second quarter. Axxcess Wealth Management LLC now owns 11,094 shares of the CRM provider's stock valued at $3,025,000 after purchasing an additional 973 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of Salesforce by 8.2% in the second quarter. Revolve Wealth Partners LLC now owns 2,106 shares of the CRM provider's stock valued at $574,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $240.34, for a total transaction of $540,765.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,862,826,974.14. The trade was a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Blair Kirk bought 3,400 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were purchased at an average cost of $254.66 per share, with a total value of $865,844.00. Following the transaction, the director owned 3,824 shares in the company, valued at approximately $973,819.84. The trade was a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 76,500 shares of company stock valued at $19,049,130. Company insiders own 3.00% of the company's stock.

Salesforce Trading Up 2.9%

Shares of NYSE:CRM opened at $248.77 on Tuesday. The stock has a market capitalization of $236.83 billion, a PE ratio of 36.16, a P/E/G ratio of 2.09 and a beta of 1.19. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The firm has a fifty day moving average price of $244.61 and a 200 day moving average price of $258.49. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. Salesforce's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were given a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce's payout ratio is currently 24.13%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group reduced their target price on Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Morgan Stanley lifted their target price on shares of Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Canaccord Genuity Group decreased their target price on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, September 4th. Macquarie reissued a "neutral" rating and set a $290.00 target price on shares of Salesforce in a research note on Thursday, September 4th. Finally, Wall Street Zen raised shares of Salesforce from a "hold" rating to a "buy" rating in a research note on Saturday. Twenty-six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.89.

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.

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