Latest Insider Selling: 5 Large-Cap Tech Stocks to Watch

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1. Salesforce Inc (NYSE:CRM)

Number of Hedge Fund Investors: 131

Salesforce Inc (NYSE:CRM)  co-founder and CEO Marc Benioff on March 20 sold 15,000 shares of Salesforce Inc (NYSE:CRM) at $304.21 per share. Since then Salesforce Inc (NYSE:CRM) stock price is almost flat.

Polen Focus Growth Strategy stated the following regarding Salesforce, Inc. (NYSE:CRM) in its fourth quarter 2023 investor letter:

“In the fourth quarter, the top relative and absolute contributors to the Portfolio’s performance were Netflix, ServiceNow, and Salesforce, Inc. (NYSE:CRM).

Salesforce has continued to grow its revenues at what we see as a healthy rate despite market concerns about the impact of the weaker macroeconomy on its business and penetration rates in its core CRM offering. Even its most mature and largest offerings, Sales Cloud and Service Cloud, are still growing revenue at double-digit rates. In addition, management realized that their cost structure, especially in salespeople, had gotten too bloated. Over the past year and a half, the company has run a much more streamlined expense structure that has led to strong operating margin expansion and earnings growth. Importantly, we do not feel Salesforce has cut into its innovation or sales muscle through these cost cuts but has eliminated unnecessary excess fat from the organization.”

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