Rep. Jonathan L. Jackson Purchases Shares of Salesforce, Inc. (NYSE:CRM)

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 Up 0.3 %

NYSE:CRM opened at $330.82 on Tuesday. The company has a market capitalization of $316.26 billion, a PE ratio of 57.53, a P/E/G ratio of 2.99 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The stock’s 50 day moving average price is $302.12 and its 200 day moving average price is $270.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 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 $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 140,982 shares of company stock worth $41,591,457 over the last quarter. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Wedbush lifted their price target on Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Canaccord Genuity Group increased their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Citigroup boosted their price target on shares of Salesforce from $290.00 to $368.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler lifted their price objective on shares of Salesforce from $325.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $345.31.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of the company. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter worth about $27,000. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the second quarter valued at about $33,000. 80.43% of the stock is owned by institutional investors.

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.

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.