SAN FRANCISCO—R. David Schmaier, President and Chief Product Officer at Salesforce, Inc. (NYSE:CRM), a $328 billion market cap software giant with a perfect Piotroski Score of 9 according to InvestingPro, recently executed a series of transactions involving the company's common stock, according to a regulatory filing made on December 23, 2024.
On December 22, Schmaier acquired a total of 1,256 shares through the exercise of restricted stock units. The following day, December 23, he sold 631 shares at an average price of $339.78 per share, totaling approximately $214,398. The sales were made to satisfy tax withholding obligations related to the vesting of restricted stock units. The transaction occurred as Salesforce stock trades near its 52-week high of $369, having gained over 43% in the past six months.
Following these transactions, Schmaier holds 20,901 shares of Salesforce common stock directly. For comprehensive insider trading analysis and 16 additional key insights about Salesforce, access the full Pro Research Report on InvestingPro.
In other recent news, Salesforce has been the focus of several analyst firms due to its impressive financial health and promising product developments. Truist Securities maintained a Buy rating with a $400 target on Salesforce, citing positive customer feedback from the Agentforce World Tour event and the potential of new products to drive revenue growth. Stifel echoed this sentiment, maintaining its Buy rating and emphasizing the potential growth from updates to the Atlas (NYSE:ATCO) Reasoning Engine.
Salesforce's Agentforce 2.0, an updated version of its flagship AI product, has also garnered attention. Mizuho (NYSE:MFG) Securities maintained an Outperform rating, highlighting the product's enhanced reasoning and data retrieval capabilities as a significant step forward for Salesforce. Goldman Sachs also reaffirmed its Buy rating, focusing on Salesforce's AI execution and potential growth in the digital labor market. BMO Capital Markets echoed this outlook, reiterating its Outperform rating and underscoring the potential of the Agentforce platform.
These recent developments have solidified Salesforce's position as a dominant player in the software industry. The company's robust operational efficiency, reflected in its impressive 76.94% gross profit margins, and a revenue growth rate of 9.53% are key indicators of its financial strength. However, it's important to note that while these analyst firms have expressed optimism, Macquarie initiated coverage on Salesforce with a Neutral rating, acknowledging potential upside and downside risks.
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