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The Street
The Street
Business
Tony Owusu

A Salesforce insider is dumping a lot of stock (and it's not Marc Benioff)

Salesforce (CRM) -) CEO Marc Benioff has been one of the biggest evangelists for the transformative power of artificial intelligence and how it will help take his company to the next level. 

While his tone has been unabashedly optimistic, investors certainly had some questions in June when Benioff sold over $100 million worth of shares in his company. 

Related: Salesforce surges on Q3 earnings, amid nascent cloud-demand rebound

While it was certainly the biggest stock dump of the year, it wasn't his only stock sale. 

Since July, Benioff has been selling 15,000 shares of his company's stock, about $3 million worth, almost daily. All told, Benioff, Benioff unloaded more than $475 million worth of shares in 170 transactions through November. 

“Business is the greatest platform for change,” Benioff told Fortune last month. "This is why I love business because you can use it to improve the state of the world. That's also why I love philanthropy." 

Benioff has had the same strategy of near-daily selling since Salesforce's stock went public nearly 20 years ago. 

The stock sales have worked out well for both the company and Benioff, however, as the stock has risen nearly 25% since, and Benioff's net worth has risen $3.46 billion this year to $9.36 billion, according to the Bloomberg Billionaires Index.

Months later, another insider is also dumping a significant amount of stock. 

Salesforce President and Chief Engineering Officer Srinivas Tallapragada executed the sale of 10,000 shares conducted at an average price of $262.24 per share on December 18. The sale resulted in a total value of $2.62 million. 

Tallapragada has sold a total of 317,538 shares of Salesforce over the past year, according to Gurufocus Research, and has not made any share purchases. 

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