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

IronOak Wealth LLC. purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,797 shares of the CRM provider's stock, valued at approximately $1,271,000. Salesforce accounts for approximately 1.4% of IronOak Wealth LLC.'s portfolio, making the stock its 28th biggest position.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CRM shares. Morgan Stanley lowered their price target on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating for the company. Mizuho decreased their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. UBS Group lowered their price target on shares of Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Westpark Capital reiterated a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $348.59.

Salesforce Stock Down 0.8%

Shares of CRM stock traded down $2.12 during trading hours on Wednesday, hitting $275.07. 12,346,453 shares of the company were exchanged, compared to its average volume of 6,949,522. The company has a market capitalization of $264.45 billion, a PE ratio of 45.24, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The business has a 50 day moving average of $268.29 and a two-hundred day moving average of $306.00. The company has a current ratio of 1.11, a quick 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 EPS for the quarter, topping analysts' consensus estimates of $2.54 by $0.04. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. During the same period last year, the firm earned $2.44 EPS. The business's revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. 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%. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is owned by insiders.

Salesforce Company 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.