Stocks
Baird Cuts Stake in Salesforce Amid Hedge Fund Adjustments
Baird Financial Group Inc. reduced its stake in Salesforce Inc. by 13% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission.
The institutional investor owned 273,547 shares of the CRM provider's stock after selling 40,781 shares during the quarter.
This move comes as other hedge funds and institutional investors are also adjusting their positions in Salesforce. California State Teachers Retirement System raised its stake by a staggering 13,260.5% during the second quarter, while BlackRock Inc. purchased a new stake worth $11,396,844,000.