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 Stock Up 0.3 %

Shares of Salesforce stock opened at $330.82 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The business has a 50-day moving average of $302.12 and a 200-day moving average of $270.49. 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 1.29.

Salesforce Dividend Announcement

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

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,982 shares of company stock worth $41,591,457 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Trust Co. N.A. bought a new position in shares of Salesforce during the 3rd quarter worth approximately $821,000. Beaird Harris Wealth Management LLC boosted its holdings in Salesforce by 1,639.5% during the third quarter. Beaird Harris Wealth Management LLC now owns 661 shares of the CRM provider’s stock worth $181,000 after purchasing an additional 623 shares during the last quarter. Tidal Investments LLC grew its position in Salesforce by 37.6% in the third quarter. Tidal Investments LLC now owns 196,584 shares of the CRM provider’s stock valued at $53,807,000 after purchasing an additional 53,739 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in Salesforce by 7.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 43,812 shares of the CRM provider’s stock valued at $11,992,000 after buying an additional 3,021 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new position in shares of Salesforce during the 3rd quarter worth about $380,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. TD Cowen boosted their target price on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. UBS Group boosted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. 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 stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $343.89.

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.