Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff has sold a total of $4,131,753 worth of company stock, according to a recent SEC filing. The transactions, which took place on May 6, 2024, involved shares sold at prices ranging from $274.88 to $276.57.
The filing revealed that Benioff sold 5,955 shares of Salesforce common stock at an average price of approximately $274.88, 7,345 shares at around $275.65, and a further 1,700 shares at nearly $276.57. These sales were executed automatically under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Benioff had adopted on December 29, 2023.
Following these transactions, the CEO still holds a significant amount of Salesforce stock, with the SEC filing disclosing that Benioff's remaining ownership includes over 12.6 million shares held directly or through the Marc R. Benioff Revocable Trust. Additionally, the Marc Benioff Fund LLC holds 10 million shares, where interests are held either in Benioff's name or in trust.
The sales were conducted in compliance with the SEC regulations, and Benioff has committed to providing full information regarding the number of shares sold at each separate price within the stated ranges upon request.
Investors often monitor insider transactions such as these for insights into executive confidence in the company's future performance. Salesforce, a leader in cloud-based customer relationship management software, continues to be a prominent player in the technology sector.
InvestingPro Insights
As Salesforce's CEO Marc Benioff adjusts his stake in the company, investors and market watchers are keen to understand the financial health and market position of Salesforce (NYSE:CRM). According to InvestingPro, Salesforce has a robust Piotroski Score of 9, indicating strong financial health and suggesting that the company's operating efficiency and liquidity positions are sound.
InvestingPro data highlights that Salesforce has a market capitalization of $268.89 billion, reflecting its significant presence in the industry. Despite trading at a high earnings multiple with a P/E ratio of 65.18, the company has demonstrated its ability to generate profit, with a revenue growth of 11.18% in the last twelve months as of Q4 2024. This growth is a testament to Salesforce's continued expansion and ability to innovate in the competitive software industry. Additionally, the company's gross profit margin stands at an impressive 75.5%, showcasing its efficiency in maintaining profitability.
InvestingPro Tips also reveal that Salesforce is not just a dominant player in the software industry but is also trading at a high revenue valuation multiple, which may be of interest to growth-focused investors. The company's strong performance is further reflected in a significant price uptick of 30.28% over the last six months, indicating positive investor sentiment and market momentum.
For those looking to delve deeper into Salesforce's financial metrics and strategic positioning, InvestingPro offers additional tips. There are 11 more InvestingPro Tips available, providing a comprehensive analysis of Salesforce's market performance and financial stability. Interested readers can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to valuable insights that could inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.