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 Performance

NYSE:CRM opened at $330.82 on Tuesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $316.26 billion, a PE ratio of 57.53, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. The business’s fifty day moving average price is $302.12 and its 200 day moving average price is $270.49.

Salesforce Dividend Announcement

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

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Prime Capital Investment Advisors LLC raised its position in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC raised its holdings in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the period. AIA Group Ltd lifted its position in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after buying an additional 1,962 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Salesforce in the 3rd quarter valued at about $3,672,000. Finally, Harvest Portfolios Group Inc. grew its position in shares of Salesforce by 13.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after buying an additional 10,656 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Cfra set a $343.00 target price on Salesforce in a report on Thursday, October 17th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Loop Capital boosted their price objective on shares of Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Seven equities 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 MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $343.89.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. 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 quarter. 3.20% of the stock is owned by company insiders.

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.