IronOak Wealth LLC. Acquires New Holdings in Salesforce, Inc. (NYSE:CRM)

IronOak Wealth LLC. bought a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,797 shares of the CRM provider's stock, valued at approximately $1,271,000. Salesforce makes up approximately 1.4% of IronOak Wealth LLC.'s portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Norges Bank bought a new position in Salesforce during the fourth quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Salesforce by 926.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. bought a new position in Salesforce during the fourth quarter worth about $1,173,564,000. Invesco Ltd. lifted its holdings in Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. BMO Capital Markets dropped their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday. Mizuho dropped their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Stephens initiated coverage on Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target on the stock. Finally, Citigroup dropped their price target on Salesforce from $335.00 to $320.00 and set a "neutral" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $349.87.

Salesforce Stock Performance

Shares of CRM stock traded up $3.80 on Tuesday, hitting $276.93. The company's stock had a trading volume of 10,944,663 shares, compared to its average volume of 6,935,645. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock's 50 day moving average is $268.29 and its 200-day moving average is $306.00. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market capitalization of $266.24 billion, a PE ratio of 45.55, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. Salesforce's dividend payout ratio is 26.10%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the 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 completion of the transaction, the chief accounting officer now owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,553 shares of company stock valued at $12,897,323 over the last quarter. 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.