10 Technology Stocks with Insider Buying in 2024

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1. Salesforce Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 162

Salesforce Inc. (NYSE:CRM) is a global leader in cloud-based customer relationship management software, providing businesses with AI-powered solutions for sales, marketing, customer service, and enterprise analytics. Its flagship platform, Customer 360, integrates data and automation to enhance customer engagement and operational efficiency. With a strong focus on AI, the company continues to expand its capabilities through innovations like Einstein AI and strategic acquisitions.

Salesforce Inc. (NYSE:CRM) experienced a modest 2024, with the share price increasing by only 6% in the last twelve months, significantly underperforming the broad market. However, there are some signs that the company’s performance is accelerating – a major highlight in the latest quarter was the launch of Agentforce, which secured over 200 deals in Q3 with a pipeline of thousands of potential transactions. Many Fortune 500 companies are now building their digital labor forces on the Salesforce platform with Agentforce. Thus, CRM significantly raised its FY2025 operating cash flow growth guidance from 24% to 26%, with free cash flow growth expected at 26% to 28%. Salesforce Inc. (NYSE:CRM)’s multi-cloud strategy continues to show strength, with the top 25 deals averaging more than 5 clouds each. Data Cloud momentum remains strong, being included in 8 of the top 10 deals, demonstrating its crucial role in AI transformation. Revenue attrition remained stable at slightly above 8%, while the company executed $1.2 billion in share repurchases and paid nearly $400 million in dividends in Q3.

Over the long term, management is focused on using innovative products like Agentforce to transform its front office software portfolio and create a future of work that blends human and AI agents. Salesforce Inc. (NYSE:CRM) sees strong customer demand and excitement around these innovations and is rapidly iterating on Agentforce and exploring emerging trends like spatial computing and business process automation to further enhance its offerings and deliver greater value to customers across industries and geographies. With that being said, it is of no surprise that 3 insiders saw an opportunity with CRM and acquired significant amounts worth of stock in 2024.

Overall Salesforce Inc. (NYSE:CRM) ranks first on our list of the 10 technology stocks with insider buying in 2024. While we acknowledge the potential of CRM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CRM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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