Paragon Cuts Stake in Salesforce Amid Institutional Shift
Paragon Private Wealth Management LLC has made adjustments to its portfolio by selling 3,182 shares of Salesforce Inc. (NYSE:CRM) in the second quarter. The fund's position in CRM was reduced by 62% during this period. As a result, Paragon now holds 1,953 shares of Salesforce stock, valued at approximately $306,000.
This is not an isolated instance, as other institutional investors have also made changes to their holdings in CRM. For example, Safeguard Investment Advisory Group LLC increased its stake in Salesforce by 15.8% during the second quarter, while Nykredit A S acquired a new position worth around $52 million.
Notably, the majority of Salesforce's stock is owned by institutional investors, with hedge funds and other institutions holding approximately 80.43% of outstanding shares.