Rep. Robert Bresnahan, Jr. Sells Salesforce, Inc. (NYSE:CRM) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Salesforce, Inc. (NYSE:CRM). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Salesforce stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.

Salesforce Stock Performance

CRM opened at $325.49 on Friday. The firm has a market capitalization of $311.49 billion, a PE ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31. The firm has a 50 day moving average of $336.56 and a two-hundred day moving average of $302.79. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Salesforce in the 4th quarter valued at about $3,599,867,000. Raymond James Financial Inc. acquired a new position in shares of Salesforce during the fourth quarter valued at about $1,173,564,000. Veritas Asset Management LLP acquired a new position in Salesforce during the 3rd quarter worth approximately $733,805,000. Invesco Ltd. increased its holdings in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CRM. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America raised their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.