Salesforce, Inc. (NYSE:CRM) Sees Large Increase in Short Interest

Salesforce, Inc. (NYSE:CRM) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 15,940,000 shares, an increase of 12.8% from the September 15th total of 14,130,000 shares. Based on an average daily volume of 5,680,000 shares, the days-to-cover ratio is presently 2.8 days.

Salesforce Trading Up 0.2 %

CRM traded up $0.59 during midday trading on Thursday, hitting $291.45. 210,836 shares of the company were exchanged, compared to its average volume of 6,417,813. The firm has a market capitalization of $282.42 billion, a P/E ratio of 52.32, a P/E/G ratio of 2.61 and a beta of 1.30. The firm’s 50 day moving average price is $265.00 and its 200-day moving average price is $263.65. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts forecast that Salesforce will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s payout ratio is presently 28.78%.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,429,961 in the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently bought and sold shares of the stock. Onyx Bridge Wealth Group LLC raised its position in shares of Salesforce by 5.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 999 shares of the CRM provider’s stock worth $273,000 after purchasing an additional 49 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Salesforce by 3.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 332,075 shares of the CRM provider’s stock valued at $90,892,000 after buying an additional 12,188 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Salesforce by 1.2% during the third quarter. Trust Co. of Vermont now owns 37,575 shares of the CRM provider’s stock valued at $10,285,000 after buying an additional 452 shares during the last quarter. Secure Asset Management LLC raised its holdings in shares of Salesforce by 32.5% in the 3rd quarter. Secure Asset Management LLC now owns 6,971 shares of the CRM provider’s stock worth $1,908,000 after acquiring an additional 1,711 shares during the last quarter. Finally, Trifecta Capital Advisors LLC lifted its position in Salesforce by 1.3% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 23,300 shares of the CRM provider’s stock valued at $6,377,000 after acquiring an additional 308 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRM shares. Wedbush boosted their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. TD Cowen lifted their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Robert W. Baird upped their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, UBS Group upped their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $310.74.

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.