Salesforce (CRM) Stock Rises as $25 Billion Buyback Commences

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TLDR

  • Salesforce has initiated a $25 billion accelerated share repurchase (ASR) — the biggest such program in the company’s history
  • The buyback started on March 11, 2026, with an initial delivery of around 103 million shares
  • Those 103 million shares make up approximately 80% of the total shares expected to be bought back
  • This $25 billion ASR is the first half of a $50 billion total share repurchase program approved by Salesforce’s board in February 2026
  • CRM stock was up roughly 2.5% in premarket trading on Monday; the final settlement is anticipated to occur in either Q3 or Q4 of Salesforce’s fiscal year 2027

Salesforce (CRM) launched its $25 billion accelerated share repurchase program on Monday — the largest ASR in the company’s history — pushing its stock up approximately 2.5% before the market opened.

Salesforce, Inc. (CRM)
CRM Stock Card

The company has confirmed it made prepayment and received an initial delivery of about 103 million shares under ASR agreements signed on March 11, 2026, with a group of major financial institutions.

These institutions include Banco Santander, Bank of America, Citibank, JPMorgan Chase Bank, and Morgan Stanley. J. Wood Capital Advisors is acting as an advisor for this transaction.

The 103 million shares initially delivered account for approximately 80% of the total shares expected to be repurchased under this tranche. The precise final number will be determined based on the volume-weighted average price of CRM stock during the transaction period, minus a discount, and is subject to adjustments.

CEO Marc Benioff was straightforward in explaining the decision. “We are actively repurchasing shares because we have great confidence in Salesforce’s future,” he stated.

Robin Washington, Salesforce’s president and chief operating and financial officer, noted that the ASR reflects the company’s “heightened confidence in the sustainability of its growth and cash flow trajectory.”

This $25 billion transaction is the immediate implementation of exactly half of the $50 billion total share repurchase program approved by Salesforce’s board in February 2026.

That $50 billion total program ranks among the largest buyback authorizations in the history of enterprise software.

Key Metrics of the Transaction

The initial delivery of 103 million shares is based on CRM’s closing price on March 11, 2026 — the day the ASR agreements were signed.

The final settlement for this $25 billion tranche is anticipated to take place in either Q3 or Q4 of Salesforce’s fiscal year 2027.

With CRM stock up around 2.5% in premarket trading on Monday, the market’s initial reaction to the announcement was positive, though subdued compared to the program’s scale.

Over the past year, Salesforce has faced pressure from investors to utilize its expanding cash reserves, and the $50 billion authorization seems to be a direct response to those demands.

Next Steps

The remaining $25 billion of the $50 billion total authorization has not been utilized yet.

This second half may be carried out via additional ASR agreements or open market purchases, though Salesforce has not provided a timeline for this.

The ongoing ASR involves five major Wall Street banks, indicating a structured and closely managed execution rather than a straightforward open market buyback.

The final number of shares repurchased under this tranche will only be confirmed after settlement is finalized, which is not expected until late in Salesforce’s fiscal year 2027.