Salesforce Shareholders Boost Stakes Amid Earnings Surpass Expectations
NewEdge Advisors LLC has increased its stake in Salesforce Inc. (NYSE:CRM) by 6.6% during the second quarter, according to a recent SEC filing. The firm purchased an additional 5,584 shares of CRM provider's stock, bringing its total holdings to 90,082 shares worth $14,112,000.
Other institutional investors have also made significant changes to their positions in Salesforce. California State Teachers Retirement System grew its stake by a staggering 13,260.5% in the second quarter, owning 188,085,056 shares valued at $29,465,405,000. BlackRock Inc. acquired a new position worth $11,396,844,000 during the same period.
Salesforce's recent earnings report exceeded expectations, with the company posting $5.90 EPS for the quarter. The firm's revenue increased 10.8% year over year to $11.35 billion. As Salesforce continues to expand its enterprise AI ecosystem and make strategic acquisitions, investors remain cautious about competitive and technical risks.
Microsoft is marketing an AI-powered migration tool to win Salesforce customers for Dynamics 365, while AI-native startup Lightfield raised $47 million to develop a potential Salesforce alternative. Technical analysts warn that CRM may be running into chart resistance after its sharp advance.