Toronto Dominion Bank Reduces Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Toronto Dominion Bank lowered its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,094 shares of the CRM provider's stock after selling 70,006 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of Salesforce worth $205,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Scotiabank dropped their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 target price for the company. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Finally, Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $352.62.

Salesforce Stock Performance

Shares of Salesforce stock traded down $4.12 during trading on Monday, hitting $287.03. 5,778,966 shares of the company's stock traded hands, compared to its average volume of 6,884,254. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $275.95 billion, a P/E ratio of 47.21, a PEG ratio of 2.58 and a beta of 1.42. The business has a 50-day simple moving average of $268.10 and a 200-day simple moving average of $307.21.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.59%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,342,415. This trade represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,527 shares of company stock valued at $14,882,976 over the last ninety days. Insiders own 3.20% of the company's stock.

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.