Salesforce, Inc. (NYSE:) Co-Founder and CTO of Slack, Harris Parker, has recently sold a portion of his company shares, according to the latest regulatory filings. The transactions, which took place on September 17, involved the sale of Salesforce common stock at prices ranging from $255.24 to $258.99, totaling over $1 million.
Parker, who is also a director at Salesforce, sold 983 shares at an average price of $255.24, 798 shares at $256.30, 1108 shares at $257.44, 933 shares at $258.30, and 378 shares at $258.99. The combined value of these sales amounted to approximately $1,079,567. This series of sales was executed automatically under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Parker had adopted on September 26, 2023.
In addition to the sales, Parker also acquired 4200 shares of common stock through the exercise of options at a price of $118.04 per share, totaling $495,768. This transaction indicates the utilization of stock options that were granted to him as part of his compensation package.
Following these transactions, Parker still holds a significant number of shares in Salesforce, both directly and indirectly through various family trusts and LLCs managed by him and his spouse. The direct holdings after the sales and option exercises amount to 117,581 shares of common stock.
Investors often monitor insider transactions as they can provide insights into executives’ confidence in their company’s prospects. However, it’s important to note that such sales and purchases can be influenced by a variety of factors and do not necessarily indicate a change in company fundamentals.
Salesforce, headquartered in San Francisco, California, is a leading provider of customer relationship management software and enterprise cloud computing solutions. The company has seen substantial growth and remains a dominant player in the tech industry.
In other recent news, Salesforce reported robust second-quarter earnings, with earnings per share reaching $2.56, surpassing the consensus estimate of $2.36 and last year’s figure of $2.12. The company also saw an 8% increase in sales, primarily propelled by a 9% rise in subscription and support revenues. Salesforce also announced a definitive agreement to acquire Own Company, a provider of data protection and management solutions, for $1.9 billion in cash, a move expected to fortify the company’s data security and compliance capabilities.
Analysts’ views on Salesforce varied, with Erste Group downgrading…
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