Salesforce, Inc. (NYSE:CRM) Short Interest Update

Salesforce, Inc. (NYSE:CRM) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 11,970,000 shares, an increase of 24.2% from the February 28th total of 9,640,000 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 6,810,000 shares, the short-interest ratio is presently 1.8 days.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. United Bank increased its stake in Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Salesforce in the third quarter valued at approximately $53,000. Kestra Investment Management LLC acquired a new position in Salesforce during the third quarter worth approximately $766,000. Benjamin Edwards Inc. boosted its holdings in shares of Salesforce by 3,967.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 44,414 shares of the CRM provider’s stock valued at $12,157,000 after purchasing an additional 43,322 shares during the last quarter. Finally, Arrowroot Family Office LLC grew its stake in shares of Salesforce by 3.4% during the 3rd quarter. Arrowroot Family Office LLC now owns 4,694 shares of the CRM provider’s stock valued at $1,285,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $272.06 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $261.45 billion, a PE ratio of 44.75, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a fifty day moving average price of $305.91 and a 200 day moving average price of $311.50.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Stifel Nicolaus reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

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.