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Miguel Milano, President and CRO of Salesforce, Inc. (NYSE:CRM), sold 405 shares of common stock on June 23 at a price of $262.3478, totaling approximately $106,250. The stock, currently trading at $271.17, has shown resilience with a 13.86% return over the past year. According to InvestingPro analysis, Salesforce appears slightly undervalued, with impressive gross profit margins of 77.3%.
According to a Form 4 filing with the Securities and Exchange Commission, Milano also exercised options to acquire 1,015 shares of Salesforce common stock on June 22. These options had an exercise price of $0.
On the same day, Milano also converted 1,015 Restricted Stock Units into common stock.
Following these transactions, Milano directly owns 9,933 shares of Salesforce.
In other recent news, Salesforce has unveiled Agentforce 3, a significant upgrade to its digital labor platform, introducing a new Command Center for monitoring AI agents. This update has already shown promising results, with companies like 1-800Accountant reporting a 70% autonomous resolution rate of administrative chats during peak periods. Salesforce has also announced a 6% price increase for its Enterprise and Unlimited Editions, reflecting ongoing innovation and customer value. The new pricing structure, along with Agentforce add-ons, is now generally available, aiming to simplify AI adoption for customers.
Cantor Fitzgerald maintained its Overweight rating on Salesforce, citing the simplified pricing and the potential for increased AI usage. The firm also highlighted the rapid growth of Salesforce’s Data Cloud + AI business, which now exceeds $1 billion in annual recurring revenue. Truist Securities reiterated its buy rating, based on positive feedback from customers regarding Salesforce’s Marketing & Commerce Cloud segment. Both firms see potential growth from Salesforce’s strategic initiatives and product updates. Additionally, Salesforce plans to acquire Informatica, a move expected to further enhance its growth trajectory if approved.
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