TLDR Milestone Asset Management increased its Salesforce stake by 190.6% to 13,197 shares during the third quarter. CRM stock gained 4.57% on October 15, closing at $246.74 following fresh bu
Milestone Asset Management increased its Salesforce stake during the third quarter, while CRM stock later gained following an analyst upgrade and new contracts. The firm’s latest securities filing details a sharp rise in holdings as investors assess the software company’s AI plans.
Milestone held 13,197 Salesforce shares worth $3.03 million on September 30. It purchased 8,655 shares during the quarter, increasing its position by 190.6%. The figures appear in a Form 13F filed on October 15.
The holding rose from 4,542 shares at the previous quarter’s end. The filing records ownership on September 30 but does not explain the purchases. It also cannot confirm subsequent changes to the position.
Bank of America analyst Tal Liani upgraded Salesforce from Underperform to Buy on October 12. He increased his price target from $160 to $285, citing the company’s AI strategy and established customer relationships.
CRM stock closed Thursday at $246.74, up 4.57%, after reaching $247.18 intraday. The move followed an earlier Salesforce stock recovery linked to the revised rating. Trading performance differs from quarter-end ownership data.
On October 15, Salesforce announced an agreement with Britain’s tax authority, HM Revenue & Customs. The contract could reach £2 billion over 15 years and covers services for more than 39 million citizens and businesses.
ZoomInfo confirmed its data partnership for Hunter, Salesforce’s new sales agent. Hunter combines customer records with outside information to identify prospects and prepare outreach. Salesforce expects wider availability later this year.
The Kobeissi Letter, followed by about 2.7 million people on X, reported that 42 AI stocks generated 67% of S&P 500 gains since 2024. Those figures provide context for AI-led market concentration, not Salesforce’s future performance.
Salesforce reported more than $1.5 billion in Agentforce annual recurring revenue in its latest quarterly results. Investors continue watching whether adoption produces higher sales and profits.
The debate comes amid wider concerns about AI chip supplies. New York Fed President John Williams said demand could outpace supply for more than two years, although he discussed hardware rather than Salesforce software.
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