IronOak Wealth LLC. Invests $1.27 Million in Salesforce, Inc. (NYSE:CRM)

IronOak Wealth LLC. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,797 shares of the CRM provider's stock, valued at approximately $1,271,000. Salesforce comprises approximately 1.4% of IronOak Wealth LLC.'s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds also recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the fourth quarter worth $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the fourth quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays lowered their price target on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research report on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research report on Wednesday. Cantor Fitzgerald began coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price target for the company. Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $342.21.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,553 shares of company stock worth $12,897,323 over the last three months. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Down 1.2%

CRM traded down $3.15 on Friday, reaching $263.77. 6,931,651 shares of the company traded hands, compared to its average volume of 7,008,667. The company has a market cap of $253.58 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock's 50 day moving average price is $267.78 and its 200-day moving average price is $305.28. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

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

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.64%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is presently 25.98%.

Salesforce Profile

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.