Salesforce CTO Parker Harris sells over $1.2m in company stock

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Salesforce CTO Parker Harris sells over $1.2m in company stock
Credit: © Reuters.

Salesforce, Inc. (NYSE: CRM ) has reported a notable transaction involving its Co-Founder and Chief Technology Officer, Parker Harris. According to recent filings, Harris sold a total of $1,263,424 worth of Salesforce common stock.

The sales occurred on April 2, 2024, and involved multiple transactions at prices ranging from $296.088 to $304.2107 per share. The series of sales reduced Harris's direct holdings in the company, although he still maintains a significant number of shares.

In addition to the sales, Harris also acquired 4,200 shares through the exercise of options at a price of $118.04 per share, totaling $495,768. These transactions are part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined plan to buy or sell company stock.

The transactions are detailed in the footnotes of the filing, indicating that the sales were executed in multiple tranches within the provided price ranges. The footnotes also clarify that these shares are held in various family trusts and LLCs managed by Harris and his spouse.

Investors often monitor insider transactions as they may provide insights into executives' perspectives on the company's current valuation and future prospects. The recent activity by Salesforce's CTO will likely be of interest to current and potential shareholders as they assess the company's performance and leadership's stake in its success.

Salesforce's stock has been a subject of investor attention, and the movements by a high-ranking executive such as Harris are noteworthy. The company continues to be a significant player in the prepackaged software industry, with its performance closely watched by market participants.

InvestingPro Insights

As Salesforce's Co-Founder and Chief Technology Officer, Parker Harris, navigates through stock transactions, investors are keenly observing the company's financial health and stock performance. Here are some recent metrics from InvestingPro that provide a snapshot of Salesforce's (NYSE:CRM) current market position:

  • The company boasts a robust Market Cap of approximately $295.71 billion, reflecting its significant presence in the software industry.
  • With a Price/Earnings (P/E) Ratio standing at 71.51, Salesforce is trading at a high earnings multiple, which suggests that investors may expect high future earnings growth compared to the current profit levels.
  • An impressive Gross Profit Margin of 75.5% over the last twelve months as of Q4 2024 indicates Salesforce's strong ability to retain profit after the cost of goods sold is considered.

Looking at the InvestingPro Tips, Salesforce has a perfect Piotroski Score of 9, which may indicate a healthy financial state and sound operational efficiency. Additionally, the stock is known to trade with low price volatility, which might appeal to investors looking for stable investment options within the tech sector.

For those interested in a deeper analysis, InvestingPro offers 15 additional InvestingPro Tips that can further guide investment decisions regarding Salesforce. To access these valuable insights, visit https://www.investing.com/pro/CRM and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

As Salesforce continues to make waves in the prepackaged software industry, these InvestingPro insights can help investors keep a pulse on the company's financial standing and market valuation, complementing the narrative around insider trading activities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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