Milano Miguel, President and Chief Revenue Officer at Salesforce, Inc. (NYSE:CRM), recently sold 719 shares of the company's common stock, totaling approximately $246,480. The transaction took place on November 25, 2024, at a price of $342.81 per share. This sale was executed to meet tax withholding obligations related to a vested restricted stock unit award. Following this transaction, Miguel holds 4,659 shares of Salesforce's common stock.
Earlier, on November 22, 2024, Miguel acquired 1,662 shares of common stock through the exercise of restricted stock units, with no cash exchanged. These units convert to common stock on a one-for-one basis.
In other recent news, Salesforce reported strong second-quarter earnings with an 8% increase in sales and a 9% rise in subscription and support revenues. The company 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. Morgan Stanley (NYSE:MS) maintained its Overweight rating on Salesforce, citing potential from the Agentforce platform. Analysts from Truist Securities and Deutsche Bank (ETR:DBKGn) also expressed confidence in Salesforce's new product catalysts, particularly Agentforce's potential to impact relevant markets. TD Cowen and Goldman Sachs adjusted their price targets for Salesforce, while maintaining a cautious outlook due to high expectations. Salesforce also introduced a suite of AI agent testing tools, part of the company's strategy to enable businesses to become "agent-first" enterprises. These are recent developments highlighting Salesforce's growth and diversification strategies.
InvestingPro Insights
As Salesforce's President and Chief Revenue Officer Milano Miguel adjusts his stock holdings, it's worth examining the company's current financial position and market performance. According to InvestingPro data, Salesforce boasts a substantial market capitalization of $324.55 billion, reflecting its dominant position in the software industry.
The company's impressive gross profit margin of 76.35% for the last twelve months as of Q2 2025 underscores its operational efficiency. This aligns with one of the InvestingPro Tips, which highlights Salesforce's "impressive gross profit margins." Such robust margins are often indicative of a company's pricing power and cost management capabilities.
Another noteworthy InvestingPro Tip suggests that Salesforce is "trading at a low P/E ratio relative to near-term earnings growth." This could be particularly interesting for investors considering the stock's recent performance, with a strong 51.8% price total return over the past year. The company's PEG ratio of 0.22 further supports this view, potentially indicating an undervalued stock relative to its growth prospects.
It's important to note that InvestingPro offers 20 additional tips for Salesforce, providing a more comprehensive analysis for those seeking deeper insights into the company's financial health and market position.
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