MW A Salesforce board member bought $1 million in stock near recent lows. He has a good track record.

By Emily Bary

Oscar Munoz's recent purchase of Salesforce shares 'sends a telling, undervalued message'

A Salesforce Inc. board member with a strong track record of insider purchases recently scooped up about $1 million worth of the software company's stock.

Oscar Munoz, a former chief executive of United Airlines Holdings Inc. $(UAL)$ who currently sits on Salesforce's board, bought 3,882 shares of Salesforce at an average price of $257.28 last Thursday, according to a filing with the Securities and Exchange Commission put out the next day.

Shares of Salesforce $(CRM)$ dropped 6% on Thursday, to close at $255.23, and they had been down 19% on the year even before that session. After dropping again Friday, the stock rose 1.4% on Monday to $244.21.

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Salesforce didn't immediately respond to a request for comment on behalf of the company or Munoz regarding the purchase.

Munoz's only past purchase of Salesforce shares proved well-timed. He bought about $500,000 worth of stock last June and it proceeded to climb about 50% from that point, before pulling back toward the end of 2024.

"As he demonstrated an opportunistic tack with his initial purchase, his return into a similar pullback sends a telling, undervalued message," analysts at VerityData noted Monday.

They flagged that Munoz made smart stock buys at other companies where he either served in an executive capacity or held a board seat. "As each of his earlier purchases have proved to be smart, his decision to double down on his June 2024 buy demonstrates strong confidence as shares pull back to lows," the VerityData team wrote in a report. (The stock is near a 52-week low.)

When Munoz was at Continental Airlines, he bought stock near the market trough in 2009. At United, he made only one buy and it was timely, though it followed a major medical procedure. At CBRE Group Inc. $(CBRE)$, he spent nearly four years as a director before making his first purchase in August 2024, a smart but "unusual" one "as he didn't stand for re-election at the 2025 annual meeting in April," according to VerityData.

The analysts noted that Robin Washington bought $500,000 of Salesforce stock near $295 in late February when she was a director and soon to take on the role of chief financial officer. "Munoz's million-dollar buy at even lower prices this quarter suggests he's confident in the company's path forward," the analysts said.

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-Emily Bary

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April 07, 2025 18:20 ET (22:20 GMT)

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