Salesforce, Inc. (NYSE:CRM) Co-Founder and Chief Technology Officer of Slack, Harris Parker, has recently sold a total of $1,258,305 worth of the company's common stock, according to a new SEC filing. The transactions, which took place on March 19, 2024, involved selling shares at prices ranging from $297.4981 to $301.4919.
Parker, who also serves as a director at Salesforce, sold a total of 4,200 shares of common stock. The sales were executed through a series of transactions with prices per share as follows: 759 shares at an average price of $297.4981, 414 shares at $298.23, 1,066 shares at $299.6858, 1,565 shares at $300.4351, and 396 shares at $301.4919. The sales were part of a pre-arranged Rule 10b5-1 trading plan, which allows insiders to sell shares at predetermined times to avoid accusations of insider trading.
In addition to the sales, Parker also acquired 4,200 shares through an option exercise priced at $118.04 per share, totaling $495,768. This transaction was also part of the same trading plan.
Following these transactions, Harris Parker's direct holdings in Salesforce common stock have been adjusted to 104,904 shares. It should be noted that Parker also has indirect holdings through various family trusts and LLCs, as indicated by footnotes in the SEC filing.
Salesforce investors often monitor insider transactions such as these for insights into executive confidence and company performance. The recent activity by Parker reflects routine trading under a pre-established plan, which is a common practice among corporate executives to manage their stock holdings.
For further details on the transactions, Salesforce investors and interested parties can refer to the full SEC Form 4 filing.
InvestingPro Insights
Amidst the recent insider transactions at Salesforce (NYSE:CRM), investors are keen on understanding the company's financial health and market position. According to InvestingPro data, Salesforce boasts a robust market capitalization of $296.88 billion, reflecting its significant presence in the industry. The company has shown a strong revenue growth rate over the last twelve months as of Q4 2024, at 11.18%, indicating a steady increase in its business operations. Furthermore, Salesforce's gross profit margin stands at an impressive 75.5%, showcasing its ability to maintain profitability amidst competitive market conditions.
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