Salesforce, Inc. (NYSE:CRM) co-founder and Chief Technology Officer of Slack, Parker Harris, has sold a total of $884,095 worth of company stock, according to a recent SEC filing. On September 3, 2024, Harris executed several transactions involving shares of Salesforce, with prices ranging from $247.596 to $252.7029 per share.
The filing indicated that Harris sold 373 shares at an average price of approximately $247.596, 469 shares at around $248.6591, 559 shares at roughly $249.5023, 401 shares at about $250.6876, 1108 shares at nearly $251.7627, and 618 shares at an average of $252.7029. These sales were conducted automatically pursuant to a Rule 10b5-1 trading plan, which Harris adopted on September 26, 2023.
In addition to the sales, the document also reported a transaction where Harris acquired 3528 shares of common stock at a price of $118.04, totaling $416,445. This transaction was related to the exercise of stock options, which were granted as part of the executive's compensation package.
Following these transactions, Harris's direct ownership in Salesforce common stock has adjusted to 117,581 shares. The report further notes that Harris, through various family trusts and LLCs, holds a substantial indirect ownership in the company's stock, which adds significant depth to his investment in Salesforce.
Investors often monitor insider buying and selling as it can provide insights into an executive's confidence in the company's prospects. Salesforce, a leader in customer relationship management software, continues to be a significant player in the tech industry, with these transactions reflecting routine financial management by one of its key executives.
In other recent news, Salesforce announced plans to acquire data management firm Own Company for $1.9 billion, a move expected to bolster Salesforce's data security and compliance capabilities. The acquisition is set to close in the fourth quarter of Salesforce's fiscal year 2025, subject to regulatory approvals. In financial news, Salesforce reported robust second-quarter results, with earnings per share of $2.56, surpassing both the consensus estimate of $2.36 and the previous year's $2.12 figure. Revenue saw an 8% increase, driven by a 9% rise in subscription and support revenues.
Analysts from CFRA, TD Cowen, BMO Capital Markets, Canaccord Genuity, and Loop Capital adjusted their price targets for Salesforce, reflecting confidence in the company's growth trajectory. Notably, CFRA maintained its Strong Buy rating, emphasizing the potential of Salesforce's artificial intelligence initiatives. Furthermore, Salesforce's CFO, Amy Weaver, announced her plans to step down in early 2025, but will assist with the search for her successor. These are some of the recent developments for Salesforce.
InvestingPro Insights
Salesforce's (NYSE:CRM) recent insider transactions coincide with notable financial metrics and market performance. The company boasts a substantial market capitalization of $235.14 billion, underscoring its significant presence in the tech industry. Salesforce also impresses with a high gross profit margin of 76.35% for the last twelve months as of Q2 2025, which is a testament to its efficient operations and strong pricing power.
InvestingPro Tips highlight Salesforce's robust financial health, with the company achieving a perfect Piotroski Score of 9, indicating superior financial condition. Additionally, Salesforce's management has demonstrated confidence in the company's value through aggressive share buybacks. These actions, coupled with 23 analysts revising their earnings estimates upwards for the upcoming period, suggest a positive outlook on Salesforce's financial performance.
Investors considering Salesforce will find additional insights on InvestingPro, which lists 14 more InvestingPro Tips for a deeper analysis. These include observations on Salesforce's trading multiples, profitability, and stock volatility, providing a comprehensive view of the company's investment potential.
For those looking to delve further into Salesforce's investment profile, the current P/E ratio stands at 42.3, with an adjusted P/E ratio of 39.05 for the last twelve months as of Q2 2025. This valuation metric, in conjunction with the company's growth prospects, is reflected in a PEG ratio of 0.16, indicating that the stock could be undervalued relative to its earnings growth potential.
These insights and more are available on InvestingPro, which includes a suite of tools and additional tips to assist investors in making informed decisions. The platform's fair value estimates, sitting at $298.68, suggest potential upside compared to the previous close price of $247.68, further enriching the investment discussion around Salesforce.
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