Salesforce Sees Institutional Buying Amid Strong Results
Flputnam Investment Management Co., an institutional investor, significantly increased its holdings in Salesforce Inc. (NYSE:CRM) by 145.9% during the second quarter.
The company's holdings in Salesforce were worth $5,674,000 as of its most recent filing with the SEC.
This move is part of a broader trend, where several hedge funds and institutional investors have been buying into Salesforce shares.
Notable among these is BlackRock Inc., which bought a new position in Salesforce worth about $11.396 billion in the second quarter.
Salesforce has seen its stock price surge after releasing strong quarterly results and raising its fiscal 2027 revenue outlook to approximately $46.1 billion-$46.4 billion.