SteelPeak Wealth LLC raised its holdings in Salesforce Inc. (NYSE:CRM – Free Report) by 553.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,750 shares of the CRM provider’s stock after buying an additional 28,589 shares during the period. SteelPeak Wealth LLC’s holdings in Salesforce were worth $7,763,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Salesforce in the second quarter worth approximately $11,396,844,000. Bank of America Corp DE bought a new position in shares of Salesforce in the second quarter valued at approximately $1,914,086,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock valued at $2,363,096,000 after buying an additional 7,160,302 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Salesforce during the second quarter valued at approximately $927,332,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Salesforce during the second quarter valued at approximately $844,928,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Salesforce
In other Salesforce news, Director David Blair Kirk acquired 4,176 shares of Salesforce stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the purchase, the director directly owned 18,748 shares of the company’s stock, valued at $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the sale, the director directly owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.
Salesforce News Roundup
- Salesforce Just Got a Rare Double Upgrade—What Changed?
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:Salesforce launched Hunter, an AI-powered outbound sales agent built on Agentforce. Integrations with ZoomInfo, Demandbase and DocuSign could increase adoption of Salesforce’s higher-value AI workflows and make the platform more embedded in customers’ sales and contracting processes. Salesforce unveils Hunter for AI-powered outbound sales
- Positive Sentiment:Bank of America reportedly upgraded Salesforce in a rare double upgrade, citing improving confidence in the company’s AI strategy, including a small AI acquisition and changes to AI-product pricing. The upgrade supports the view that monetization could improve as customers move to premium offerings. Salesforce received a rare double upgrade
- Positive Sentiment:The Loops AI acquisition and new Agentforce capabilities reinforce Salesforce’s effort to turn AI into a growth driver, although investors will need evidence of meaningful revenue acceleration. Salesforce buys the Loops AI platform
- Neutral Sentiment:Investor interest in CRM has risen sharply, with Salesforce appearing among heavily searched stocks. This may increase visibility but is not, by itself, a fundamental catalyst. Investors heavily search Salesforce
- Negative Sentiment:Enterprise-software shares are falling as worries spread that aggressive AI infrastructure and financing commitments may not generate sufficient returns. Salesforce is being pulled lower alongside other AI-linked software leaders. Enterprise software stocks fall as AI financing worries spread
- Negative Sentiment:Investors are comparing Salesforce’s premium-edition price increases with Adobe’s more user-friendly pricing approach, raising concerns that Salesforce’s AI monetization strategy could pressure customer upgrades or retention. Adobe versus Salesforce for AI software growth
Salesforce Price Performance
Salesforce stock opened at $241.00 on Friday. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. The company’s 50 day moving average price is $231.47 and its two-hundred day moving average price is $194.82. The stock has a market cap of $198.35 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.09 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02.
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