Strait & Sound Wealth Management LLC Joins Other Hedge Funds in Buying Salesforce Shares
Strait & Sound Wealth Management LLC purchased shares of Salesforce Inc. (NYSE:CRM) during the second quarter, according to its latest SEC filing. The fund bought 1,986 shares valued at approximately $311,000.
This is not an isolated incident; several other hedge funds have also recently added or reduced their stakes in CRM. Fred Alger Management LLC boosted its stake by 0.3% in the third quarter and now owns 14,943 shares worth $3,548,000 after buying an additional 45 shares. Synergy Financial Group LTD grew its stake by 2.4% during the same period.
Analysts are cautiously optimistic about Salesforce's future prospects. The company recently reported a strong quarterly beat and raised revenue outlook to approximately $46.1 billion-$46.4 billion for fiscal 2027. Additionally, the integration of AI capabilities with Anthropic has strengthened its growth narrative, according to investors.
However, some analysts still view Salesforce's valuation as a concern and caution that Anthropic could control the AI orchestration layer, potentially limiting Salesforce's long-term strategic leverage.