E. Ohman J or Asset Management AB Grows Position in Salesforce Inc. $CRM

Key Points

• E. Ohman J or Asset Management AB increased its Salesforce stake by 8.3% in the second quarter, bringing its holdings to 189,144 shares valued at approximately $29.6 million. Institutional investors collectively own 80.43% of Salesforce.
• Analyst sentiment remains broadly positive, with Salesforce carrying a “Moderate Buy” consensus rating and an average price target of $249.51, despite several recent rating downgrades to “Hold.”
• Salesforce reported quarterly EPS of $3.88, exceeding estimates of $3.13, while revenue rose 13.3% year over year to $11.13 billion. The company also declared a quarterly dividend of $0.44 per share, representing a 0.9% annualized yield.

E. Ohman J or Asset Management AB boosted its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,144 shares of the CRM provider's stock after purchasing an additional 14,538 shares during the period. E. Ohman J or Asset Management AB's holdings in Salesforce were worth $29,631,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Marquette Asset Management LLC grew its position in Salesforce by 707.4% in the 2nd quarter. Marquette Asset Management LLC now owns 218 shares of the CRM provider's stock valued at $34,000 after acquiring an additional 191 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Salesforce by 36.7% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 17,364 shares of the CRM provider's stock valued at $2,720,000 after purchasing an additional 4,664 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Salesforce by 25.9% in the second quarter. Financial Management Professionals Inc. now owns 491 shares of the CRM provider's stock worth $77,000 after buying an additional 101 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Salesforce by 42.8% during the second quarter. Revolve Wealth Partners LLC now owns 2,254 shares of the CRM provider's stock worth $353,000 after buying an additional 676 shares during the period. Finally, Atlas Brown Inc. boosted its position in Salesforce by 5.8% during the 2nd quarter. Atlas Brown Inc. now owns 7,949 shares of the CRM provider's stock valued at $1,245,000 after acquiring an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CRM shares. Guggenheim upgraded Salesforce from a "neutral" rating to a "buy" rating and set a $228.00 price target on the stock in a report on Wednesday, July 1st. Truist Financial downgraded Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Wells Fargo & Company cut their target price on Salesforce from $210.00 to $200.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 28th. Wolfe Research downgraded shares of Salesforce from an "outperform" rating to a "hold" rating in a report on Wednesday, July 1st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $249.51.

Salesforce Stock Up 2.4%

CRM stock opened at $197.32 on Tuesday. The stock has a market capitalization of $161.61 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $170.99 and a 200 day moving average of $182.79.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $0.75. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. Salesforce's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Sell-side analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce's payout ratio is presently 20.37%.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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