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SAN FRANCISCO—Miguel Milano, President and Chief Revenue Officer at Salesforce, Inc. (NYSE:CRM), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Milano sold 458 shares of Salesforce stock on February 24, 2025, at an average price of $307.97 per share, totaling approximately $141,048. The transaction occurred as Salesforce, now valued at $295.55 billion, maintains impressive gross profit margins of 77%.
The transaction was carried out to cover tax withholding obligations related to the vesting of restricted stock units (RSUs) that Milano had previously earned. Following this sale, Milano now holds 5,864 shares of Salesforce common stock directly. According to InvestingPro analysis, Salesforce stock currently appears slightly undervalued based on its Fair Value assessment.
In a related transaction on February 22, 2025, Milano acquired 1,663 shares of common stock through the conversion of RSUs, which are set to vest over a specified schedule. These RSUs convert on a one-for-one basis into common stock, with 25% of the original grant vesting on August 22, 2024, and the remainder vesting quarterly thereafter.
Salesforce, a leading provider of customer relationship management software, continues to see active trading from its executives, reflecting ongoing management of personal holdings in line with company policies.
In other recent news, Salesforce has announced a significant expansion of its strategic partnership with Google (NASDAQ:GOOGL), focusing on enhancing AI capabilities and infrastructure. This collaboration will integrate Salesforce’s applications, such as Agentforce and Data Cloud, with Google’s cloud services, promising improved AI features like real-time voice translation and intelligent agent handoffs. Concurrently, Salesforce has committed to a $2.5 billion cloud deal with Google over seven years, allowing customers to operate their software on Google Cloud. Analyst firms have also weighed in on Salesforce’s developments, with Citizens JMP maintaining a Market Outperform rating and a $450 price target, citing a $170 million federal contract as a positive factor. TD Cowen reiterated a Buy rating with a $400 price target, highlighting solid growth and positive feedback on Salesforce’s AI initiatives. The company is expected to report its fourth-quarter earnings on February 26, with analysts anticipating strong performance. Additionally, Salesforce’s Agentforce is performing well, with significant adoption in recent deals. These developments underscore Salesforce’s ongoing efforts to leverage AI and cloud technologies for business growth.
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