Cathie Wood Fund Sells $3.1M Salesforce Stock After 12% Q4 Revenue Rise
ARK Next Generation Internet ETF sold 15,622 Salesforce shares for roughly $3.1 million following a 4.03% stock surge. Salesforce posted a 12% fourth-quarter revenue rise and unveiled a $50 billion share buyback plan.
1. Ark Invest Sells Salesforce Shares
The ARK Next Generation Internet ETF trimmed its Salesforce position by offloading 15,622 shares valued at about $3.1 million based on the closing price. This move came after the stock climbed 4.03% on strong quarterly results.
2. Strong Fourth-Quarter Results
Salesforce delivered a 12% year-over-year increase in fourth-quarter revenue, driven by growth across its cloud software segments. The results exceeded prior quarter growth rates and helped propel the stock higher.
3. $50 Billion Repurchase Program
Alongside revenue gains, Salesforce authorized a $50 billion share buyback program to bolster shareholder returns. The sizable repurchase plan underscores management’s confidence in cash flow generation and long-term value creation.