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Srinivas Tallapragada, President and Chief Engineering Officer at Salesforce, Inc. (NYSE:CRM), recently sold a significant portion of company stock. According to a recent filing, Tallapragada sold 4,001 shares of Salesforce common stock on March 24, 2025, at an average price of $284.58 per share, totaling approximately $1.14 million. The transaction occurred as Salesforce, with its impressive market capitalization of $277.76 billion and industry-leading gross profit margins of 77%, maintains its position as a prominent player in the software industry.
The sale was part of a transaction to satisfy tax withholding obligations related to the settlement of shares from a restricted stock unit award. Following this transaction, Tallapragada retains direct ownership of 30,873 shares of Salesforce common stock. According to InvestingPro, Salesforce maintains a GREAT financial health score, suggesting strong operational performance despite the insider sale.
This sale follows a series of stock acquisitions on March 22, 2025, where Tallapragada acquired a total of 7,967 shares of common stock through the exercise of stock options. These transactions were conducted at no cost, as they involved the conversion of restricted stock units to common stock on a one-for-one basis. With the stock currently trading at $288.61, InvestingPro analysis suggests the company is slightly undervalued, with additional insights available in the comprehensive Pro Research Report covering this leading software company.
In other recent news, Salesforce has been the focus of several significant developments. The company issued equity awards to 218 new employees from its recent acquisitions of Own Company and Zoomin, as part of its strategy to integrate new talent and encourage long-term commitment. These awards, totaling 95,777 restricted stock units, will vest over four years. On the financial front, Salesforce’s recent fourth-quarter results showed an 11% growth in current remaining performance obligations, slightly surpassing expectations. TD Cowen maintained a Buy rating with a $375 price target, highlighting the strength of Salesforce’s Data Cloud and sales hiring plans as indicators of sustained demand.
Additionally, Truist Securities reiterated a Buy rating with a $400 price target, citing Salesforce’s diverse portfolio and strategic investments as potential growth drivers through fiscal year 2027. Meanwhile, BMO Capital Markets adjusted its price target to $367 from $375, maintaining an Outperform rating despite acknowledging some underwhelming aspects of Salesforce’s revenue guidance. The firm’s analysts remain positive about Salesforce’s Data Cloud and Agentforce offerings. These developments underscore the ongoing interest and confidence in Salesforce’s market position and future growth prospects.
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