Primecap Management Co. CA Buys into Salesforce as Earnings Top Estimates

Primecap Management Co. CA has acquired a new stake in Salesforce Inc., purchasing 259,450 shares worth approximately $40,645,000.

This is not an isolated move, as several other institutional investors and hedge funds have also added to their stakes in the company in the second quarter.

Salesforce reported adjusted earnings of $5.90 per share, well above the analyst consensus of $3.27 and up from $2.91 a year earlier, with revenue increasing 10.8% year over year to $11.35 billion.