Ancora Advisors Doubles Down on Salesforce Amid AI-Fueled Earnings Surge
Ancora Advisors LLC significantly increased its investment in Salesforce Inc. (NYSE:CRM) during the second quarter, adding to its existing holdings.
The institutional investor purchased an additional 2,195 shares of CRM provider's stock, raising its stake by 2.5% and increasing its total holdings to 90,219 shares worth $14,134,000 as of its most recent SEC filing.
This is not the only significant change in Salesforce's ownership structure during this period. Other institutional investors such as Sigma Planning Corp, GTS Securities LLC, Alyeska Investment Group L.P., Flputnam Investment Management Co., and Capital Advisors Inc. OK have also made notable adjustments to their positions in CRM.
Salesforce has seen a surge in its stock price following the release of its quarterly earnings report on August 26th. The company reported $5.90 earnings per share, beating expectations by $2.63, and revenue of $11.35 billion for the quarter, up 10.8% year over year.