Salesforce president and CRO sells shares worth more than $770k Via Investing.com
President of Salesforce, Inc. and Chief Revenue Officer Miguel Milano recently sold half of his company's stock for more than $770,000. The sale took place on August 23, 2024, the shares were sold at an average price of $ 262.9455 each. The transaction was disclosed in a filing with the Securities and Exchange Commission.
Miguel Milano, a major shareholder in Salesforce (NYSE:CRM), disposed of 2,934 shares of the common stock. The sale was part of a planned transaction to satisfy withholding obligations related to the grant of restricted stock units (RSUs). The RSUs were granted based on Milano's continued performance through August 22, 2024, as shown in the SEC filing's footnotes.
Prior to this sale, Milano held a transaction on August 22, where he received 6,650 shares of Salesforce common stock for free. This was related to the granting of RSUs, which convert to common stock in a one-way manner. After this transaction, Milano still holds the majority of shares in the company, with 19,951 shares remaining after the sale and purchase.
Salesforce, headquartered in San Francisco, California, is a leader in customer relationship management (CRM) software and cloud-based business solutions. As a prominent figure in the technology industry, Milano's stock transactions are closely watched by investors to gain insight into the firm's high confidence and performance.
The transactions are conducted in accordance with SEC rules and represent standard practices for stock-based compensation for executives of publicly traded companies. Details of the transaction, including the exact number of shares sold and prices per share, are available in the SEC Form 4 filing.
In other recent news, Salesforce.com (NYSE: ) has been under the spotlight with mixed opinions from analysts. TD Cowen maintained its 'Hold' rating on Salesforce.com, expecting the company's turnaround to single-digit growth starting in the second quarter. Despite the challenges of securing large business deals, TD Cowen expects the company to deliver second quarter results in line with market expectations. On the other hand, BofA Securities raised its target price on Salesforce.com citing strong projections for future free cash flow growth, while BMO Capital maintained an 'Outperform' rating, expressing confidence in the company's revenue forecast for fiscal year 2025.
In an important development, Salesforce.com and Workday (NASDAQ:), Inc. announced a partnership to launch an artificial intelligence (AI) service agent. The program aims to improve productivity and efficiency by automating tasks and providing personalized support.
Meanwhile, Elliott Investment Management is pursuing a seat on the board of Starbucks Corporation (NASDAQ: ) in equity with its managing partner, Jesse Cohn. An activist investor aims to increase a company's performance and stock price. These are the latest developments of both companies.
InvestingPro Insights
As Salesforce Inc. (NYSE:CRM) continues to make headlines for high-profile stock transactions, with investors closely monitoring the company's financial health and market performance. According to InvestingPro data, Salesforce has a firm market capitalization of $256.73 billion, indicating its significant presence in the technology industry. The company's revenue for the last twelve months from Q1 2025 stood at $35.74 billion, showing an impressive growth of 11.04%. This growth is supported by a gross profit margin of 76.0%, underscoring Salesforce's ability to maintain profitability despite competitive pressures.
InvestingPro Tips highlights that Salesforce operates with a moderate level of debt and has cash flow that can adequately cover its interest payments, providing a degree of financial stability. In addition, analysts predict that the company will remain profitable this year, in line with its performance over the past twelve months. For investors looking for long-term value, Salesforce has delivered high returns over the past decade, a testament to its enduring market position and strategic plans.
For those interested in in-depth analysis, InvestingPro offers additional tips on Salesforce, including details on its earnings multiples and valuation metrics. Currently, there are 10 more InvestingPro Tips available on Salesforce, which can be found at These tips can give investors a thorough understanding of a company's financial problems and potential investment opportunities.
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