Insider Srinivas Tallapragada Sells Shares of Salesforce Inc (CRM)
Srinivas Tallapragada, President and Chief Engineering Officer of Salesforce Inc (NYSE:CRM), has sold 2,890 shares of the company on March 22, 2024, according to a recent SEC filing.
Salesforce Inc (NYSE:CRM) is a global leader in customer relationship management (NYSE:CRM) technology that brings companies and customers together. It is the leading provider of enterprise cloud computing solutions, with a focus on customer service, marketing automation, analytics, and application development.
The transaction was executed at an average price of $309.32 per share, resulting in a total sale amount of $893,944.80. Following this transaction, Srinivas Tallapragada's remaining stake in Salesforce Inc (NYSE:CRM) has not been disclosed in the filing.
Over the past year, Srinivas Tallapragada has sold a total of 413,042 shares of Salesforce Inc (NYSE:CRM) and has not made any purchases of the stock. The insider transaction history for Salesforce Inc (NYSE:CRM) shows a pattern of insider sales, with 341 insider sells and no insider buys over the past year.
On the day of the insider's recent sale, shares of Salesforce Inc (NYSE:CRM) were trading at $309.32, giving the company a market capitalization of $298.54 billion. The stock's price-earnings ratio stood at 73.28, which is above the industry median of 28.1 but below the company's historical median price-earnings ratio.
According to the GuruFocus Value indicator, Salesforce Inc (NYSE:CRM) has a price-to-GF-Value ratio of 1.26, suggesting that the stock is modestly overvalued. The GF Value of $245.68 is derived from historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider trend image above reflects the recent insider selling activity at Salesforce Inc (NYSE:CRM).
The GF Value image above provides an intrinsic value estimate for Salesforce Inc (NYSE:CRM), indicating its current valuation status in the market.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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