UBS Trims Stake as Salesforce Surges on AI Partnership and Strong Earnings

UBS Asset Management Americas LLC reduced its position in Salesforce Inc. stock by 10.3% during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission. The fund owned approximately 7.95 million shares of CRM after selling 917,304 shares during the period.

UBS Asset Management's stake in Salesforce is worth around $1.25 billion as of its most recent SEC filing, accounting for about 0.97% of the company's outstanding shares.

The move comes amidst a strong quarterly earnings report from Salesforce, which beat analyst estimates and raised its fiscal 2027 revenue outlook to approximately $46.1 billion-$46.4 billion. The CRM provider also expanded its alliance with Anthropic, integrating Claude into Agentforce and launching 'Claudeforce', which places Salesforce CRM capabilities inside Claude.

Analysts have been mixed in their views on Salesforce's stock, with some seeing limited upside or downside after the recent rally. However, several firms have raised price targets for the company, including Truist to $300, JPMorgan to $265, and Mizuho to $265.