Heron Bay Capital Management Puts $15.20 Million into Salesforce Ahead of Earnings Report
Heron Bay Capital Management has acquired a new position in Salesforce Inc. (NYSE:CRM) worth $15.20 million, according to the company's latest 13F filing with the Securities and Exchange Commission.
The firm purchased 97,010 shares of CRM stock during the second quarter, which accounts for approximately 1.4% of Heron Bay Capital Management's portfolio and makes Salesforce its 25th largest position.
This is not an isolated instance, as other large investors have also recently bought and sold shares of Salesforce. Temasek Holdings Private Ltd raised its stake in the company by 3.7% during the fourth quarter, while SFE Investment Counsel boosted its position by 82.7% during the same period.
Salesforce has been on a positive trajectory lately, with analysts predicting a possible post-earnings move towards the stock's highest level since January. The company recently reported $11.13 billion of quarterly revenue, up 13.3% year over year, and EPS of $3.88, above consensus.