SAN FRANCISCO—Amy Weaver, President and Chief Financial Officer of Salesforce, Inc. (NYSE:CRM), has reported a series of transactions involving the company's common stock. According to a recent SEC filing, Weaver sold 942 shares of Salesforce stock on December 23, 2024, at an average price of $339.7756 per share. The total value of these sales amounted to $320,068. The transaction comes as Salesforce maintains strong financial health, with InvestingPro data showing impressive gross profit margins of 77% and a perfect Piotroski Score of 9, indicating robust operational efficiency.
The transactions were part of a series of stock activities, which also included the acquisition of shares through the exercise of restricted stock units on December 22, 2024. Weaver acquired 1,873 shares of common stock at no cost as part of this exercise.
These sales were executed to satisfy tax withholding obligations related to the settlement of shares earned through a restricted stock unit award that vested on December 22, 2024, as noted in the filing. Following these transactions, Weaver holds 53,861 shares of Salesforce stock directly.
In other recent news, Salesforce continues to receive positive analyst outlooks following recent product developments and financial performance. Truist Securities maintained a Buy rating and a $400 price target, underlining the company's operational efficiency and potential for revenue growth, especially after the Agentforce World Tour event. Stifel also sustained its Buy rating, highlighting the forthcoming updates to the Atlas (NYSE:ATCO) Reasoning Engine and the staggered release of Agentforce 2.0, expected to be fully available in February 2025.
Mizuho (NYSE:MFG) Securities kept an Outperform rating, focusing on the launch of Agentforce 2.0 and its potential to drive Salesforce's bookings and revenue. Goldman Sachs (NYSE:GS) reaffirmed its Buy rating, emphasizing Salesforce's AI execution and potential growth in the digital labor market. BMO Capital Markets also reiterated its Outperform rating, citing the potential of Salesforce's Agentforce platform and anticipated growth in IT budgets for AI.
Recent developments include the launch of Agentforce 2.0, updates to the Atlas Reasoning Engine, and the integration of Agentforce within Slack. Salesforce also revised its bylaws to streamline stockholder processes. These developments, coupled with strong financial indicators such as a gross profit margin of 76.94%, underline Salesforce's robust position in the industry.
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