SAN FRANCISCO—Harris Parker, Co-Founder and CTO of Slack and a director at Salesforce, Inc. (NYSE:CRM), has sold shares of the company valued at approximately $1.21 million. The transactions, disclosed in a recent SEC filing, took place on October 22, 2024.
Parker sold a total of 4,200 shares at prices ranging from $288.3615 to $291.629. Following these sales, Parker holds 118,514 shares directly, according to the filing.
In addition to these sales, Parker also exercised options to acquire 4,200 shares at a price of $118.04 per share. The transactions were conducted under a pre-arranged 10b5-1 trading plan adopted on September 26, 2023.
Parker's remaining holdings include shares held indirectly through various entities and trusts, totaling over 1.6 million shares.
In other recent news, Salesforce reported strong second-quarter earnings, with earnings per share of $2.56, an 8% increase in sales, and a 9% rise in subscription and support revenues. The company also made significant acquisitions, purchasing Zoomin and Own Company for $1.9 billion in cash. These are recent developments that have caught the attention of various analyst firms. Piper Sandler and Wolfe Research have maintained an Overweight and Outperform rating respectively, emphasizing Salesforce's potential for margin expansion and free cash flow growth. However, Erste Group and TD (TSX:TD) Cowen have downgraded the stock to Hold due to projected slower growth.
In addition to these financial developments, Salesforce has launched Agentforce, an AI-driven suite of autonomous bots. This move has resulted in a 130% year-over-year growth in its paid customer base. The company has also formed a partnership with IBM (NYSE:IBM) to integrate advanced AI capabilities into its platform. Furthermore, Starboard Value LP, an investment firm known for its involvement in publicly traded companies, presented potential value creation opportunities for Salesforce at the 2024 Active-Passive Investor Summit. These recent developments highlight Salesforce's ongoing efforts to remain at the forefront of the customer relationship management industry.
InvestingPro Insights
While Harris Parker's recent sale of Salesforce shares may raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, Salesforce boasts a substantial market capitalization of $275.87 billion, underscoring its position as a major player in the software industry.
One of the InvestingPro Tips highlights that Salesforce has a perfect Piotroski Score of 9, indicating strong financial health and performance. This score, combined with the company's impressive gross profit margins of 76.35% for the last twelve months as of Q2 2025, suggests that Salesforce maintains a robust financial foundation despite insider sales.
Furthermore, Salesforce's revenue growth of 10.26% over the same period demonstrates the company's continued ability to expand its business. This growth, coupled with a PEG ratio of 0.19, implies that the stock may be undervalued relative to its earnings growth potential, despite trading at a P/E ratio of 49.66.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Salesforce, providing a deeper understanding of the company's financial position and market outlook.
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