Salesforce, Inc. (NYSE:CRM) CEO and Chair Marc Benioff has sold a total of $4,063,848 worth of company stock, according to a recent filing with the Securities and Exchange Commission. The transactions, which occurred on April 30th, involved the sale of shares at prices ranging from $269.0214 to $273.9621.
The filing showed that Benioff sold shares in multiple transactions within the specified price range. The sales were executed automatically pursuant to a Rule 10b5-1 trading plan that Benioff had adopted on December 29, 2023. This type of trading plan is commonly used by corporate insiders to sell shares over a predetermined period of time, in a manner that is compliant with insider trading laws.
Following the sales, Benioff still holds a substantial number of shares directly or through the Marc R. Benioff Revocable Trust. The exact number of shares sold at each separate price within the range has not been disclosed in the filing, but Benioff has undertaken to provide full information upon request.
This move comes as insiders' trading activities are often watched closely by investors for insights into a company's performance and the confidence that executives have in their firm's future prospects.
Salesforce, a leader in cloud-based customer relationship management software, has seen its stock price fluctuate in recent months amidst broader market trends and company-specific developments.
Investors and stakeholders of Salesforce, Inc. can access the full details of the transactions from the SEC filing, which provides transparency into the trading activities of the company's executives.
InvestingPro Insights
As Salesforce (NYSE:CRM) makes headlines with the CEO's recent stock sales, investors are keen to understand the company's financial standing and future prospects. According to InvestingPro data, Salesforce boasts a market capitalization of $260.63 billion, reflecting its substantial presence in the industry. The company has a P/E ratio of 64.39, which is adjusted to 49.53 on a last twelve months basis as of Q4 2024, indicating a high earnings multiple that investors should be aware of.
The company's revenue growth is also noteworthy, with an 11.18% increase over the last twelve months as of Q4 2024. This growth is consistent with the company's position as a prominent player in the software industry, as highlighted in one of the InvestingPro Tips. Furthermore, Salesforce's gross profit margin stands at an impressive 75.5%, showcasing the company's ability to maintain profitability.
InvestingPro Tips suggest that Salesforce is trading at a high revenue valuation multiple, with analysts predicting the company will be profitable this year. Additionally, the company's cash flows can sufficiently cover interest payments, and it operates with a moderate level of debt. For investors seeking a more in-depth analysis, there are 12 additional InvestingPro Tips available, which can provide further insights into Salesforce's financial health and market position.
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