Short Interest in Salesforce, Inc. (NYSE:CRM) Rises By 24.2%

Salesforce, Inc. (NYSE:CRM) was the recipient of a large 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. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 6,810,000 shares, the days-to-cover ratio is currently 1.8 days.

Salesforce Stock Up 0.7 %

NYSE:CRM traded up $1.86 on Wednesday, hitting $272.06. The stock had a trading volume of 5,381,593 shares, compared to its average volume of 6,648,514. The business’s fifty day moving average is $307.13 and its 200 day moving average is $311.78. Salesforce has a 52 week low of $212.00 and a 52 week 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 company 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 Increases Dividend

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

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. This trade represents a 11.74 % 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 this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, 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 a total of 45,660 shares of company stock valued at $14,095,336 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the 4th quarter worth $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CRM. Wells Fargo & Company decreased their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. DA Davidson dropped their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Finally, Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.