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Sundeep G. Reddy, Executive Vice President and Chief Accounting Officer at Salesforce, Inc. (NYSE:CRM), has recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Reddy sold a total of 1,909 shares of Salesforce common stock on March 24, 2025. The shares were sold at an average price of $284.5797 each, totaling approximately $543,262. The transaction comes as Salesforce maintains a "GREAT" financial health score according to InvestingPro analysis, with impressive gross profit margins of 77%.
The transactions were carried out in two batches. The first sale involved 849 shares, resulting in proceeds of $241,608. The second sale consisted of 1,060 shares, amounting to $301,654. These sales were executed to satisfy tax withholding obligations related to the vesting of restricted stock units.
Following these transactions, Reddy continues to hold 11,310 shares of Salesforce common stock.
In other recent news, Salesforce has been actively making strategic moves and receiving analyst attention. The company recently issued equity awards to 218 new employees from its acquisitions of Own Company and Zoomin, aligning with its strategy to integrate new talent and incentivize long-term commitment. These awards, totaling 95,777 restricted stock units, are set to vest over four years. Meanwhile, Salesforce’s fourth-quarter results showed an 11% growth in current remaining performance obligations, surpassing company guidance, as noted by TD Cowen analysts.
Truist Securities maintained a Buy rating on Salesforce, with a $400 price target, highlighting growth drivers like Data Cloud and AI/Agentforce as potential catalysts for future performance. TD Cowen also reiterated a Buy rating with a $375 target, emphasizing Salesforce’s robust financial health and strategic sales force expansion. BMO Capital Markets adjusted their price target slightly to $367 but maintained an Outperform rating, citing confidence in Salesforce’s Data Cloud and Agentforce offerings. These developments reflect ongoing confidence in Salesforce’s market position and growth potential amidst its strategic initiatives.
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