Rep. Josh Gottheimer Purchases Shares of Salesforce, Inc. (NYSE:CRM)

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 14th. 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

Shares of CRM opened at $361.99 on Friday. The company has a 50 day moving average of $309.97 and a two-hundred day moving average of $272.88. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $346.06 billion, a price-to-earnings ratio of 59.54, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.44%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Salesforce from $325.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Stifel Nicolaus boosted their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen raised their price target on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $372.86.

Insider Buying and Selling at Salesforce

In related news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The stock was 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. In the last quarter, insiders sold 140,982 shares of company stock worth $41,591,457. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares in the last quarter. Legal & General Group Plc boosted its position in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.