German American Bancorp Invests Heavily in Salesforce
German American Bancorp Inc., an institutional investor, has made a significant investment in Salesforce Inc. (NYSE:CRM) by purchasing 23,623 shares valued at approximately $3.7 million during the second quarter.
This new stake is just one of several recent investments in Salesforce by various institutional investors and hedge funds. Brighton Jones LLC boosted its stake in the CRM provider's stock by 13.7% in the fourth quarter, while Revolve Wealth Partners LLC grew its holdings in Salesforce by 12.6% during the same period.
The investment comes as Salesforce continues to experience strong growth, with revenue up 13.3% compared to the same quarter last year. The company's recent quarterly earnings report exceeded analyst estimates, with earnings per share (EPS) of $3.88, beating the consensus estimate of $3.13.