Salesforce, Inc. (NYSE:CRM) Short Interest Down 6.2% in January

Salesforce, Inc. (NYSE:CRM) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 9,770,000 shares, a decline of 6.2% from the January 15th total of 10,420,000 shares. Based on an average daily volume of 6,780,000 shares, the days-to-cover ratio is presently 1.4 days.

Insider Activity

In other news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,117,641 shares of company stock valued at $386,408,308 in the last ninety days. 3.20% of the stock is owned by company insiders.

Institutional Trading of Salesforce

Institutional investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter worth approximately $25,000. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter valued at approximately $27,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC increased its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $30,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.5 %

Shares of CRM opened at $324.19 on Thursday. The stock has a 50 day moving average price of $335.02 and a 200 day moving average price of $304.66. The stock has a market capitalization of $310.25 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 2.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. Equities research analysts forecast that Salesforce will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Citigroup lifted their price objective on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Finally, Robert W. Baird boosted their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $376.84.

Salesforce Company 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.