Empowered Funds Invests $26 Million in Salesforce
Empowered Funds LLC has made a new investment in Salesforce Inc. (NYSE:CRM) during the second quarter, acquiring approximately $26.65 million worth of shares.
This is not an isolated incident, as several other hedge funds and institutional investors have also increased their positions in CRM recently. BlackRock Inc., for instance, bought a new stake valued at around $11.4 billion, while J. Stern & Co. LLP raised its holdings by 24,056.7% in the fourth quarter.
Salesforce reported strong quarterly earnings, with adjusted EPS of $5.90 surpassing the consensus estimate of $3.27 and revenue rising 10.8% year over year to $11.35 billion, slightly exceeding expectations.
Management has lifted fiscal 2027 revenue guidance to $46.1-$46.4 billion and EPS guidance to $16.67-$16.71, with third-quarter EPS guidance of $3.42-$3.44 topping the analyst estimate of $3.16.