IWC Cuts Salesforce Stake Amid Strong Earnings Report

Integrated Wealth Concepts (IWC) has made a significant reduction in its stake in Salesforce Inc. (ticker not mentioned), selling 9,830 shares of the company's stock in the second quarter.

The sale reduced IWC's holdings by 25.4%, leaving it with 28,899 shares valued at approximately $4.53 million.

This move comes as Salesforce reported strong quarterly results, including earnings per share of $5.90 and revenue of $11.35 billion, a year-over-year increase of 10.8%.

Meanwhile, Director Craig Conway also sold 4,500 shares of Salesforce in early September, decreasing his ownership by 45.29% to 5,437 shares valued at around $1.42 million.