Salesforce, Inc. (NYSE:CRM) CEO and Chair Marc Benioff has sold a total of $4,625,445 worth of company stock, according to a recent SEC filing. The transactions occurred on March 22, 2024, and were executed in multiple trades within price ranges from approximately $307.43 to $309.24.
The sale involved three separate transactions of Salesforce common stock. In the first transaction, Benioff sold 4,935 shares at a weighted average price of $307.43, with prices ranging from $306.78 to $307.77. The second transaction saw 4,869 shares sold at an average price of $308.37, within a range of $307.80 to $308.79. The final sale consisted of 5,196 shares at an average price of $309.24, with individual sales prices between $308.81 and $309.77.
Following these transactions, Benioff still holds a significant number of shares in the company. Directly and through the Marc R. Benioff Revocable Trust, he owns 13,086,166 shares. Additionally, the Marc Benioff Fund LLC holds 10,000,000 shares indirectly.
These sales were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of material non-public information. This plan had been adopted by Benioff on September 21, 2023.
Investors often monitor insider transactions as they provide insights into executives' confidence in their company's future performance. Benioff's recent stock sales, while substantial, still leave him with a large stake in Salesforce, indicating a continued vested interest in the company's success.
InvestingPro Insights
As Salesforce Inc.'s (NYSE:CRM) CEO Marc Benioff adjusts his personal stake in the company, investors and potential shareholders are closely observing the company’s financial health and market performance. According to InvestingPro data, Salesforce boasts a significant market capitalization of $296.84 billion, underscoring its status as a heavyweight in the software industry.
InvestingPro data also reveals a robust revenue growth of 11.18% over the last twelve months as of Q4 2024, with the company generating a substantial $34.86 billion in revenue. Such growth is a testament to Salesforce's continued expansion and market penetration. The company's gross profit margin stands at an impressive 75.5%, indicating strong profitability relative to its sales.
InvestingPro Tips highlight several key points for investors considering Salesforce. Notably, the company has a perfect Piotroski Score of 9, suggesting solid financial health. Moreover, 33 analysts have revised their earnings upwards for the upcoming period, reflecting optimism about the company's future financial performance. These insights are particularly relevant as they provide a broader context to the CEO's recent stock transactions, suggesting that Salesforce remains a robust company with a positive outlook.
For those looking to delve deeper into Salesforce's financial metrics and gain additional insights, there are over 16 InvestingPro Tips available at InvestingPro, which can further guide investment decisions. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering an even greater value as they explore the comprehensive financial analysis and data that InvestingPro provides.
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