Sapient Capital Cuts Salesforce Stake by 55.2%

Sapient Capital LLC has cut its stake in Salesforce Inc., according to a recent filing with the Securities and Exchange Commission. The institutional investor sold 2,728 shares of the CRM provider's stock during the second quarter, reducing its holdings by 55.2%.

The company now owns 2,217 shares of Salesforce stock worth $348,000 at the end of the most recent quarter. This is part of a broader trend among hedge funds and other institutional investors who own 80.43% of the stock.

Salesforce has been performing well in terms of earnings and revenue growth, with the company reporting $3.88 EPS for the quarter, beating analyst estimates by $0.75. The firm's revenue was up 13.3% compared to the same quarter last year.