Institutional Investors Show Mixed Signals on Salesforce Stock
HighTower Advisors LLC reduced its stake in Salesforce Inc. (NYSE:CRM) by 3.5% during the second quarter, according to its latest Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,825 shares of CRM's stock after selling 13,306 shares during the quarter.
HighTower Advisors LLC's holdings in Salesforce were worth $56,683,000 as of its most recent SEC filing. This represents a decrease in value compared to the previous quarter, but still shows a significant investment in the company.
In contrast, California State Teachers Retirement System grew its position in CRM by 13,260.5% during the second quarter. The retirement system now owns 188,085,056 shares of CRM's stock worth $29,465,405,000 after purchasing an additional 186,677,290 shares.
Other institutional investors, such as BlackRock Inc., J. Stern & Co. LLP, and Norges Bank, also purchased new stakes in CRM during the second quarter. The company's stock price has been trending upwards, but some analysts have expressed caution about its valuation.