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

Salesforce, Inc. (NYSE:CRM - Get Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 11,970,000 shares, a growth of 24.2% from the February 28th total of 9,640,000 shares. Based on an average daily volume of 6,810,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research firms have issued reports on CRM. Stephens began coverage on shares of Salesforce in a report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target for the company. KeyCorp upgraded shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Guggenheim reiterated a "sell" rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $361.42.

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Insider Activity at Salesforce

In other news, COO Brian Millham sold 708 shares of the firm's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares of the company's stock, valued at approximately $411,694.92. This trade represents a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 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 value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Salesforce during the fourth quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares during the period. Raymond James Financial Inc. bought a new stake in Salesforce during the fourth quarter valued at $1,173,564,000. Invesco Ltd. grew its position in Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after buying an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

CRM stock traded down $12.04 during midday trading on Friday, reaching $243.19. 4,750,537 shares of the company's stock traded hands, compared to its average volume of 6,672,312. The firm has a market capitalization of $233.71 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a 50-day moving average price of $304.32 and a two-hundred day moving average price of $311.11. Salesforce has a 52 week low of $212.00 and a 52 week high of $369.00. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors 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. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.69%. Salesforce's dividend payout ratio is 26.10%.

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.