Stock Traders Purchase High Volume of Salesforce Call Options (NYSE:CRM)

Salesforce, Inc. (NYSE:CRM) was the recipient of some unusual options trading on Tuesday. Stock investors bought 75,813 call options on the company. This is an increase of approximately 74% compared to the typical daily volume of 43,481 call options.

Insider Activity

In related news, insider Parker Harris sold 942 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $264.78, for a total value of $249,422.76. Following the sale, the insider now directly owns 118,514 shares in the company, valued at approximately $31,380,136.92. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Miguel Milano sold 719 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,298 shares of company stock valued at $39,903,781 in the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter valued at approximately $27,000. Clear Investment Research LLC grew its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the second quarter valued at $33,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 3.9 %

Shares of CRM opened at $337.23 on Thursday. The stock has a market capitalization of $322.73 billion, a P/E ratio of 55.47, a PEG ratio of 3.21 and a beta of 1.30. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $321.11 and a two-hundred day simple moving average of $277.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the company posted $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. On average, research analysts anticipate that Salesforce will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is presently 26.32%.

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday. Northland Securities reissued an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. BMO Capital Markets raised their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, DA Davidson raised their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $378.86.

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.