Short Interest in Salesforce, Inc. (NYSE:CRM) Drops By 6.2%

Salesforce, Inc. (NYSE:CRM - Get Free Report) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 9,770,000 shares, a drop 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 short-interest ratio is currently 1.4 days.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 719 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company's stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,833 shares of company stock worth $381,389,136. Insiders own 3.20% of the company's stock.

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Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently modified their holdings of the business. Ascent Group LLC lifted its holdings in shares of Salesforce by 1.2% during the fourth quarter. Ascent Group LLC now owns 16,187 shares of the CRM provider's stock worth $5,412,000 after purchasing an additional 185 shares during the period. Putney Financial Group LLC acquired a new position in Salesforce in the fourth quarter valued at $1,394,000. Mackenzie Financial Corp lifted its holdings in Salesforce by 100.2% in the fourth quarter. Mackenzie Financial Corp now owns 585,861 shares of the CRM provider's stock valued at $195,871,000 after buying an additional 293,291 shares during the period. Forum Financial Management LP lifted its holdings in Salesforce by 24.5% in the fourth quarter. Forum Financial Management LP now owns 10,543 shares of the CRM provider's stock valued at $3,525,000 after buying an additional 2,075 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new position in Salesforce in the fourth quarter valued at $7,936,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

Salesforce stock traded down $8.89 during mid-day trading on Friday, reaching $309.54. The company had a trading volume of 7,341,387 shares, compared to its average volume of 6,249,096. Salesforce has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $296.23 billion, a P/E ratio of 50.91, a P/E/G ratio of 2.63 and a beta of 1.31. The business has a fifty day simple moving average of $333.34 and a 200 day simple moving average of $305.25.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The business 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 last year, the firm posted $1.62 EPS. On average, equities research analysts predict that Salesforce will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce's dividend payout ratio (DPR) is presently 26.32%.

Analyst Ratings Changes

CRM has been the subject of several research reports. BMO Capital Markets cut their price objective on shares of Salesforce from $425.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday. Canaccord Genuity Group raised their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Robert W. Baird raised their price objective on shares of Salesforce from $340.00 to $430.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Finally, Jefferies Financial Group raised their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $375.53.

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.