Cozad Cuts Stake in Salesforce Amid Market Shift

Cozad Asset Management Inc., a financial institution, has made adjustments to its stake in Salesforce Inc. (NYSE:CRM). According to a recent filing with the Securities & Exchange Commission, Cozad lessened its holdings by 43% during the first quarter of this year.

The firm owned 8,120 shares after selling 6,125 shares, valued at $1,516,000 as per the SEC filing. This move is part of a broader trend in the market, with other hedge funds also adjusting their positions in Salesforce.

For instance, J. Stern & Co. LLP significantly increased its holdings by 24,056.7% during the fourth quarter and now owns 47,385,511 shares worth approximately $12,552,896,000. Similarly, Norges Bank purchased a new stake in Salesforce worth around $3,182,951,000 in the same quarter.

It's worth noting that hedge funds and other institutional investors own about 80.43% of Salesforce's stock. The company's latest quarterly earnings report showed revenue of $11.13 billion, exceeding analyst estimates by a margin of $0.75 per share.