Salesforce, Inc. (NYSE:CRM) Shares Acquired by TD Asset Management Inc.

TD Asset Management Inc. boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 822,377 shares of the CRM provider's stock after purchasing an additional 72,773 shares during the quarter. TD Asset Management Inc. owned approximately 0.09% of Salesforce worth $274,945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. United Bank raised its position in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider's stock worth $1,999,000 after acquiring an additional 76 shares during the period. Penserra Capital Management LLC raised its position in shares of Salesforce by 1.2% during the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider's stock worth $2,415,000 after purchasing an additional 105 shares during the last quarter. Larson Financial Group LLC lifted its stake in Salesforce by 38.6% in the 3rd quarter. Larson Financial Group LLC now owns 4,269 shares of the CRM provider's stock valued at $1,168,000 after buying an additional 1,188 shares in the last quarter. Cahill Financial Advisors Inc. boosted its holdings in Salesforce by 26.4% in the 3rd quarter. Cahill Financial Advisors Inc. now owns 1,015 shares of the CRM provider's stock worth $278,000 after buying an additional 212 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider's stock worth $3,360,215,000 after buying an additional 314,530 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

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Salesforce Stock Down 0.8 %

NYSE:CRM traded down $2.35 during midday trading on Thursday, reaching $278.64. The company had a trading volume of 1,808,280 shares, compared to its average volume of 6,371,745. The stock's fifty day simple moving average is $311.35 and its 200-day simple moving average is $310.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $267.77 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.58 and a beta of 1.35.

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the company's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,875 shares of company stock worth $13,580,649. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. KeyCorp raised Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. Truist Financial reaffirmed a "buy" rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and increased their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $362.74.

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.