Salesforce, Inc. (NYSE:CRM – Get Rating) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 12,870,000 shares, an increase of 13.2% from the July 15th total of 11,370,000 shares. Based on an average daily volume of 7,280,000 shares, the short-interest ratio is currently 1.8 days.
Wall Street Analyst Weigh In
CRM has been the subject of a number of recent research reports. CICC Research initiated coverage on shares of Salesforce in a research report on Monday, May 9th. They set an “outperform” rating for the company. Citigroup upped their target price on shares of Salesforce to $192.00 in a report on Friday, June 3rd. Loop Capital dropped their target price on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating for the company in a report on Thursday, June 2nd. Wells Fargo & Company upped their target price on shares of Salesforce from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, June 1st. Finally, Cowen dropped their target price on shares of Salesforce from $285.00 to $225.00 in a report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.
Salesforce Trading Up 1.7 %
Ad Tradewins
The Safest Option in Trades!
If you’re new to trading, then you’ve probably heard the wrong thing about options—that they’re risky, unpredictable, or difficult.
And it couldn’t be more wrong! With the Hughes Optioneering Strategy, you’ll soon learn that the safest option for new accounts is options themselves!
CRM stock traded up $3.16 during mid-day trading on Friday, reaching $189.89. The company had a trading volume of 3,846,152 shares, compared to its average volume of 4,484,920. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $188.94 billion, a PE ratio of 184.36, a price-to-earnings-growth ratio of 5.21 and a beta of 1.08. The firm has a 50 day moving average of $176.37 and a 200 day moving average of $187.86. Salesforce has a 12 month low of $154.55 and a 12 month high of $311.75.
Salesforce (NYSE:CRM – Get Rating) last issued its earnings results on Tuesday, May 31st. The CRM provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same period in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, equities analysts predict that Salesforce will post 2.18 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Salesforce news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $188.29, for a total value of $433,067.00. Following the completion of the sale, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at approximately $5,227,187,980.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $188.29, for a total value of $433,067.00. Following the completion of the sale, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at approximately $5,227,187,980.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 568 shares of Salesforce stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $177.87, for a total transaction of $101,030.16. Following the completion of the sale, the insider now directly owns 93,650 shares of the company’s stock, valued at approximately $16,657,525.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,049 shares of company stock valued at $13,849,022. Company insiders own 3.60% of the company’s stock.
Hedge Funds Weigh In On Salesforce
Hedge funds and other institutional investors have recently modified their holdings of the business. Lebenthal Global Advisors LLC purchased a new stake in Salesforce during the fourth quarter valued at approximately $399,000. Soltis Investment Advisors LLC lifted its position in Salesforce by 6.2% during the first quarter. Soltis Investment Advisors LLC now owns 1,133 shares of the CRM provider’s stock valued at $240,000 after acquiring an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Salesforce by 11.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 170,612 shares of the CRM provider’s stock valued at $36,224,000 after acquiring an additional 17,441 shares during the last quarter. Addison Capital Co lifted its position in Salesforce by 37.4% during the first quarter. Addison Capital Co now owns 2,905 shares of the CRM provider’s stock valued at $617,000 after acquiring an additional 790 shares during the last quarter. Finally, Peterson Wealth Services lifted its position in Salesforce by 16.9% during the first quarter. Peterson Wealth Services now owns 8,846 shares of the CRM provider’s stock valued at $1,878,000 after acquiring an additional 1,279 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors.
About Salesforce
Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company’s service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Salesforce, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Salesforce wasn’t on the list.
While Salesforce currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Techyrack Website stock market day trading and youtube monetization and adsense Approval
Adsense Arbitrage website traffic Get Adsense Approval Google Adsense Earnings Traffic Arbitrage YouTube Monetization YouTube Monetization, Watchtime and Subscribers Ready Monetized Autoblog
from NYSE Updates – My Blog https://ift.tt/ZoHkYVU
via IFTTT
No comments:
Post a Comment