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

Posted by ABMN Staff on Dec 8th, 2024

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

Shares of NYSE CRM opened at $361.99 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.11. The firm has a fifty day moving average of $309.97 and a 200 day moving average of $272.88. The firm has a market cap of $346.06 billion, a PE ratio of 59.54, a PEG ratio of 3.33 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.44%. Salesforce’s dividend payout ratio is currently 26.32%.

Institutional Trading of Salesforce

Hedge funds have recently modified their holdings of the stock. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Salesforce by 1.3% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 7,125 shares of the CRM provider’s stock valued at $1,832,000 after buying an additional 94 shares during the period. BDF Gestion purchased a new position in Salesforce in the second quarter worth approximately $7,302,000. Manning & Napier Advisors LLC acquired a new position in Salesforce during the 2nd quarter worth approximately $44,708,000. CCM Investment Advisers LLC grew its holdings in Salesforce by 0.9% during the 2nd quarter. CCM Investment Advisers LLC now owns 65,170 shares of the CRM provider’s stock worth $16,755,000 after acquiring an additional 572 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in shares of Salesforce by 0.7% in the 2nd quarter. OLD National Bancorp IN now owns 78,746 shares of the CRM provider’s stock valued at $20,246,000 after purchasing an additional 521 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were 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. In the last three months, insiders have sold 140,982 shares of company stock worth $41,591,457. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America lifted their price target on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC upped their target price on shares of Salesforce from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Tuesday, December 3rd. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Guggenheim reiterated a “neutral” rating on shares of Salesforce in a report on Wednesday. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $372.86.

Read Our Latest Stock Analysis on CRM

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.

About Salesforce

(Get Free Report)

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.