Abbot Financial Management Buys Salesforce Stake Worth Over $500K
Abbot Financial Management Inc., an institutional investor, purchased a new stake in Salesforce Inc. (NYSE:CRM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.
The company bought 3,214 shares of CRM stock, valued at approximately $504,000.
This is not an isolated investment; several other hedge funds and institutional investors have also recently increased their stakes in Salesforce. Temasek Holdings Private Ltd, for example, grew its holdings in CRM by 3.7% during the fourth quarter and now owns 683,790 shares of the company's stock worth $181,143,000.
Despite these investment moves, there are some cautionary notes to consider. A Seeking Alpha analysis argues that Salesforce's $27.1 billion share-repurchase program could support earnings-per-share growth, but also acknowledges that buybacks have increased debt.