Salesforce chief eng/cust success officer sells $332,919 in CRM stock

Published 24/06/2025, 23:56
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Srinivas Tallapragada, Chief Engineering and Customer Success Officer at Salesforce, Inc. (NYSE:CRM), sold a total of 1,269 shares of company stock on June 23, 2025, for approximately $332,919. The shares were sold at a price of $262.3478. The stock, currently trading at $271.17, appears slightly undervalued according to InvestingPro Fair Value metrics. With a market capitalization of $259.7 billion and impressive gross profit margins of 77.3%, Salesforce maintains its position as a prominent player in the software industry.

On June 22, Tallapragada also exercised options to acquire a total of 2,525 shares of Salesforce common stock. These transactions involved 1,002 and 1,523 shares, respectively, obtained through the conversion of restricted stock units. InvestingPro analysis reveals the company’s overall financial health score as "GREAT," with 10+ additional ProTips available to subscribers, including detailed insights into valuation multiples and growth prospects.

In other recent news, Salesforce announced the launch of Agentforce 3, a significant upgrade to its digital labor platform. This update includes a new Command Center for monitoring AI agents and boasts a 233% increase in AI agent usage over six months. Salesforce also revealed a 6% price increase for major products such as Sales Cloud and Service Cloud, effective from August 2025. Cantor Fitzgerald maintained its Overweight rating and $325 price target on Salesforce, citing the company’s strong pricing power and the potential for revenue growth acceleration. Truist Securities reiterated its buy rating with a $400 price target, highlighting positive customer feedback and the growth potential of Salesforce’s Marketing & Commerce Cloud segment. Additionally, Salesforce’s Agentforce has generated over $100 million in annual recurring revenue since its launch, contributing to the company’s expanding Data Cloud + AI business. Cantor Fitzgerald projects that Agentforce could reach $1 billion in annual recurring revenue in the coming years. Salesforce has also introduced new Slack plans with enhanced AI features and simplified pricing options to encourage AI adoption.

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