Salesforce (NYSE:CRM) Stock Acquired Rep. Jonathan L. Jackson

Representative Jonathan L. Jackson (D-Illinois) recently bought shares of Salesforce, Inc. (NYSE:CRM). In a filing disclosed on November 29th, the Representative disclosed that they had bought between $15,001 and $50,000 in Salesforce stock on October 28th. The trade occurred in the Representative’s “MORGAN STANLEY TRUST ACCOUNT” account.

Representative Jonathan L. Jackson also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of ASML (NASDAQ:ASML) on 10/28/2024.
• Purchased $15,001 – $50,000 in shares of General Dynamics (NYSE:GD) on 9/24/2024.
• Sold $15,001 – $50,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 9/24/2024.
• Purchased $15,001 – $50,000 in shares of Aramark (NYSE:ARMK) on 9/19/2024.
• Sold $15,001 – $50,000 in shares of AES (NYSE:AES) on 9/19/2024.

Salesforce Trading Down 0.8 %

Shares of NYSE CRM traded down $2.55 during midday trading on Tuesday, reaching $328.46. The company had a trading volume of 3,191,094 shares, compared to its average volume of 6,275,240. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average price is $302.12 and its 200-day moving average price is $270.49. The stock has a market cap of $314.01 billion, a PE ratio of 57.45, a price-to-earnings-growth ratio of 2.99 and a beta of 1.30.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Analyst Ratings Changes

Several research firms recently weighed in on CRM. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Raymond James lifted their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Canaccord Genuity Group upped their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $345.31.

Insider Buying and Selling

In related news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,982 shares of company stock worth $41,591,457 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aviance Capital Partners LLC grew its stake in Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after acquiring an additional 33 shares during the period. EWA LLC lifted its holdings in shares of Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank increased its stake in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC raised its holdings in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after buying an additional 34 shares during the period. Finally, Nvwm LLC boosted its holdings in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

About Representative Jackson

Jonathan Jackson (Democratic Party) is a member of the U.S. House, representing Illinois’ 1st Congressional District. Jackson assumed office on January 3, 2023. Jackson’s current term ends on January 3, 2025. Jackson (Democratic Party) is running for re-election to the U.S. House to represent Illinois’ 1st Congressional District. Jackson declared candidacy for the 2024 election. Jonathan Jackson was born in Chicago, Illinois. Jackson graduated from Whitney Young High School. He earned an M.B.A. from Northwestern University. Jackson’s career experience includes working as an investment analyst and an entrepreneur.

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.