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Srinivas Tallapragada, President and Chief Engineering Officer at Salesforce, Inc. (NYSE:CRM), recently sold $1.39 million worth of the company’s stock, according to a recent SEC filing. The transaction involved the sale of 4,447 shares at an average price of $312.73 per share on February 24, 2025. The sale price was near the stock’s current trading level of $305.88, with InvestingPro analysis indicating the company is slightly undervalued based on its Fair Value assessment.
In addition to the sale, Tallapragada also exercised options to acquire 4,447 shares of Salesforce common stock. These options were exercised at prices ranging from $215.17 to $218.21 per share, resulting in a total transaction value of approximately $963,697. The transactions were executed automatically under a Rule 10b5-1 trading plan adopted in September 2024. Notably, Salesforce maintains strong financial health with a perfect Piotroski Score of 9, according to InvestingPro data, which offers 12 additional valuable insights about the company’s performance.
Following these transactions, Tallapragada’s direct ownership of Salesforce stock stands at 26,907 shares. The company, currently valued at $293.27 billion, has demonstrated impressive gross profit margins of 76.94% and strong revenue growth of 9.53% over the last twelve months.
In other recent news, Salesforce has announced an expansion of its strategic partnership with Google (NASDAQ:GOOGL) Cloud, focusing on enhancing AI capabilities and infrastructure. This collaboration will see Salesforce’s Agentforce leveraging Google’s Gemini models for complex tasks, and deeper integration with Google Customer Engagement Suite to bring AI-enabled features to contact centers. Additionally, Salesforce has committed to a $2.5 billion cloud deal with Google over seven years, allowing its customers to operate various products on Google Cloud. This move is part of a broader effort to compete with Microsoft Corp (NASDAQ:MSFT).’s offerings and highlights the growing importance of partnerships in the tech sector.
In analyst updates, Citi analyst Tyler Radke has adjusted Salesforce’s stock price target to $350, maintaining a Neutral rating, citing mixed demand trends and the need for more evidence of Agentforce’s impact. Conversely, Citizens JMP analyst Patrick Walravens remains bullish, reiterating a Market Outperform rating with a $450 price target, highlighting a significant $170 million federal contract and the promising performance of Agentforce. Walravens noted that Salesforce’s product Agentforce is performing well, potentially doubling initial expectations, although concerns about Mulesoft and the Data Cloud were mentioned without detail. These developments underscore the dynamic landscape Salesforce is navigating as it balances growth initiatives and strategic partnerships.
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