TD Private Client Wealth LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 74.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,384 shares of the CRM provider's stock after buying an additional 12,501 shares during the quarter. TD Private Client Wealth LLC's holdings in Salesforce were worth $9,824,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce during the fourth quarter worth $30,000. Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce during the fourth quarter valued at about $32,000. Institutional investors own 80.43% of the company's stock.
Insider Activity at Salesforce
In other news, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 652 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the sale, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,762 shares of company stock worth $13,733,407. Corporate insiders own 3.20% of the company's stock.
Salesforce Stock Performance
Shares of NYSE CRM traded up $5.64 during midday trading on Monday, hitting $286.26. The company's stock had a trading volume of 6,762,989 shares, compared to its average volume of 6,386,651. The firm has a market capitalization of $275.10 billion, a price-to-earnings ratio of 47.08, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $312.85 and a 200 day moving average price of $310.64. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CRM. Truist Financial restated a "buy" rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Wedbush reiterated an "outperform" rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim restated a "sell" rating and set a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, Royal Bank of Canada raised their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $362.74.
Check Out Our Latest Analysis on CRM
Salesforce Company Profile
(
Free Report)
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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