Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff has sold a total of $3,371,313 worth of company stock, according to a recent SEC filing. The transactions, which took place on May 31, 2024, involved the sale of shares at prices ranging from $216.76 to $234.03.
The filing revealed that Benioff disposed of multiple blocks of shares, with the sales conducted under a Rule 10b5-1 trading plan, which was adopted on December 29, 2023. Such plans allow company insiders to sell shares at predetermined times to avoid accusations of trading on nonpublic information.
Following these transactions, Benioff's direct holdings in Salesforce have been adjusted to 12,392,327 shares. Additionally, the SEC filing indicated that the shares sold were held directly by Benioff or in the Marc R. Benioff Revocable Trust. It's also noted that an additional 10,000,000 shares are held indirectly through the Marc Benioff Fund LLC.
The sales come as part of Benioff's regular financial planning strategy and are not necessarily indicative of the company's performance or future prospects. Salesforce, headquartered in San Francisco, California, remains a leading entity in the cloud-based software industry.
Investors and followers of Salesforce can request more detailed information about the specific number of shares sold at each price point within the provided range by contacting the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission as per the reporting person's undertaking in the footnotes of the SEC filing.
InvestingPro Insights
In light of the recent stock sales by Salesforce's CEO, Marc Benioff, investors may be looking for additional context to understand the company's current financial health and market position. According to InvestingPro data, Salesforce boasts an impressive gross profit margin of 76.0% for the last twelve months as of Q1 2025, indicating strong profitability in its core operations. Furthermore, despite recent market volatility reflected in a 1-week price total return of -13.9%, Salesforce maintains a robust market capitalization of $229.28B USD.
Two pertinent InvestingPro Tips for Salesforce include the company's perfect Piotroski Score of 9, which suggests a healthy financial state, and the fact that Salesforce is a prominent player in the Software industry. These insights may reassure investors about the company's financial stability and industry standing, even as the stock has experienced significant price fluctuations over the last three months, with a price total return of -25.92%.
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