TD Private Client Wealth LLC Buys 2,796 Shares of Salesforce Inc. (NYSE:CRM)

TD Private Client Wealth LLC grew its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 9.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,180 shares of the CRM provider's stock after purchasing an additional 2,796 shares during the period. TD Private Client Wealth LLC's holdings in Salesforce were worth $8,636,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $27,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the fourth quarter worth $35,000. VSM Wealth Advisory LLC purchased a new position in shares of Salesforce in the fourth quarter valued at $45,000. Finally, Vermillion Wealth Management Inc. boosted its stake in shares of Salesforce by 138.9% in the first quarter. Vermillion Wealth Management Inc. now owns 172 shares of the CRM provider's stock valued at $46,000 after purchasing an additional 100 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $270.82, for a total value of $609,345.00. Following the transaction, the chief executive officer directly owned 11,862,457 shares of the company's stock, valued at approximately $3,212,590,604.74. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 1,269 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $332,922.15. Following the completion of the transaction, the insider owned 42,678 shares in the company, valued at $11,196,573.30. This trade represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,034 shares of company stock worth $8,833,235. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada downgraded shares of Salesforce from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $420.00 to $275.00 in a research report on Thursday, May 29th. Barclays decreased their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Sanford C. Bernstein raised their price target on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research report on Thursday, May 29th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Price Performance

Shares of CRM traded up $3.97 during trading hours on Tuesday, hitting $273.77. 6,657,147 shares of the company were exchanged, compared to its average volume of 6,543,246. The company has a market capitalization of $261.72 billion, a PE ratio of 42.84, a PEG ratio of 2.47 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a fifty day simple moving average of $272.36 and a 200-day simple moving average of $290.63. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the company posted $2.44 EPS. Salesforce's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's payout ratio is presently 25.98%.

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.