E. Ohman J or Asset Management AB Has $45.36 Million Stake in Salesforce, Inc. (NYSE:CRM)

E. Ohman J or Asset Management AB lessened its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 15.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 169,027 shares of the CRM provider's stock after selling 30,421 shares during the period. Salesforce comprises approximately 1.2% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 16th largest holding. E. Ohman J or Asset Management AB's holdings in Salesforce were worth $45,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Athena Investment Management acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $236,000. Jag Capital Management LLC grew its position in shares of Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after purchasing an additional 22,797 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $2,861,000. Atlantic Union Bankshares Corp grew its position in shares of Salesforce by 2.7% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after purchasing an additional 723 shares during the last quarter. Finally, Dash Acquisitions Inc. grew its position in shares of Salesforce by 2.6% in the fourth quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock valued at $21,785,000 after purchasing an additional 1,525 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRM shares. Cantor Fitzgerald started coverage on Salesforce in a research report on Tuesday. They issued an "overweight" rating and a $325.00 target price on the stock. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Finally, Royal Bank of Canada lowered Salesforce from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $420.00 to $275.00 in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Trading Up 2.7%

CRM traded up $7.34 during midday trading on Friday, hitting $274.48. 7,500,949 shares of the company were exchanged, compared to its average volume of 6,591,171. The firm has a market capitalization of $262.40 billion, a P/E ratio of 45.14, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The firm's 50 day moving average price is $266.48 and its 200-day moving average price is $302.92. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 EPS. As a group, equities analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is 25.98%.

Insider Activity

In related news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares of the company's stock, valued at $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares of the company's stock, valued at $3,218,599.80. This trade represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock valued at $11,024,802 in the last ninety days. 3.20% of the stock is owned by company insiders.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.