SAN FRANCISCO—Niles Sabastian, President and Chief Legal Officer of Salesforce, Inc. (NYSE:CRM), has recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Sabastian sold 931 shares of Salesforce common stock on November 25, 2024, at an average price of $342.81 per share, totaling approximately $319,156.
The sale was made to cover tax obligations related to the vesting of restricted stock units that were granted based on continued employment through November 22, 2024. Following this transaction, Sabastian holds 1,559 shares of Salesforce stock directly.
Earlier, on November 22, Sabastian acquired 1,662 shares through the vesting of restricted stock units, which convert on a one-for-one basis to common stock. This acquisition brought his total holdings to 18,289 shares before the recent sale.
Salesforce, headquartered in San Francisco, continues to be a significant player in the prepackaged software industry, with Sabastian playing a key role in its leadership team.
In other recent news, Salesforce reported strong second-quarter earnings, with a rise in sales by 8% and a 9% increase in subscription and support revenues. The firm also acquired Zoomin and Own Company for $1.9 billion in cash and announced plans to hire 1,000 new employees to support Agentforce sales. Analysts from Morgan Stanley (NYSE:MS), Truist Securities, Deutsche Bank (ETR:DBKGn), and Goldman Sachs (NYSE:GS) maintained a positive outlook on the company, citing potential growth from the Agentforce platform. However, TD (TSX:TD) Cowen and Erste Group downgraded the stock to Hold, expressing caution. Salesforce also introduced a suite of AI agent testing tools, including the Agentforce Testing Center, Sandboxes for Agentforce and Data Cloud, and monitoring tools for Agentforce. These are all recent developments for Salesforce.
InvestingPro Insights
As Niles Sabastian adjusts his holdings in Salesforce, Inc. (NYSE:CRM), the company's financial metrics and market position offer additional context to this insider transaction. According to InvestingPro data, Salesforce boasts a substantial market capitalization of $324.55 billion, underscoring its prominence in the software industry.
The company's financial health appears robust, with a revenue of $36.47 billion over the last twelve months as of Q2 2025, and an impressive gross profit margin of 76.35%. This strong margin aligns with one of the InvestingPro Tips, which highlights Salesforce's "impressive gross profit margins."
Another relevant InvestingPro Tip notes that Salesforce is "trading near its 52-week high," with the stock price at 97.21% of its 52-week high. This information provides context to Sabastian's recent stock sale, which occurred at an average price of $342.81 per share.
Investors considering Salesforce might also be interested in the company's valuation metrics. The stock currently trades at a P/E ratio of 58.71, which an InvestingPro Tip suggests is "high relative to near-term earnings growth." However, the same source indicates that Salesforce has a "perfect Piotroski Score of 9," potentially signaling strong financial health and performance.
For those seeking a more comprehensive analysis, InvestingPro offers 20 additional tips on Salesforce, providing a deeper dive into the company's financial position and market outlook.
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