Salesforce (NYSE:CRM) Stock Acquired Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Salesforce, Inc. (NYSE:CRM). In a filing disclosed on December 05th, the Representative disclosed that they had bought between $1,001 and $15,000 in Salesforce stock on November 12th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/29/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/27/2024.
• Sold $1,001 – $15,000 in shares of Netflix (NASDAQ:NFLX) on 11/27/2024.
• Sold $1,001 – $15,000 in shares of Vertiv (NYSE:VRT) on 11/27/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/26/2024.
• Purchased $1,001 – $15,000 in shares of Dominion Energy (NYSE:D) on 11/26/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/26/2024.
• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 11/25/2024.
• Sold $1,001 – $15,000 in shares of ConocoPhillips (NYSE:COP) on 11/22/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/22/2024.

Salesforce Price Performance

NYSE:CRM traded up $0.61 during trading hours on Friday, reaching $361.99. 5,734,483 shares of the company were exchanged, compared to its average volume of 7,548,698. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average is $308.26 and its 200-day moving average is $272.43. The firm has a market cap of $346.06 billion, a PE ratio of 59.54, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the company earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.44%. Salesforce’s dividend payout ratio is presently 26.32%.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas acquired a new position in shares of Salesforce during the 3rd quarter worth $15,894,000. Inspire Trust Co. N.A. acquired a new position in shares of Salesforce during the 3rd quarter worth $821,000. Beaird Harris Wealth Management LLC raised its stake in shares of Salesforce by 1,639.5% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 661 shares of the CRM provider’s stock worth $181,000 after buying an additional 623 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Salesforce by 37.6% during the 3rd quarter. Tidal Investments LLC now owns 196,584 shares of the CRM provider’s stock worth $53,807,000 after buying an additional 53,739 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of Salesforce by 7.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 43,812 shares of the CRM provider’s stock worth $11,992,000 after buying an additional 3,021 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Guggenheim reaffirmed a “neutral” rating on shares of Salesforce in a research note on Wednesday. The Goldman Sachs Group increased their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Finally, Sanford C. Bernstein increased their target price on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $372.86.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 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 value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction 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 $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 valued at $41,591,457 in the last 90 days. 3.20% of the stock is currently owned by insiders.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.