IronOak Wealth LLC. Purchases New Shares in Salesforce, Inc. (NYSE:CRM)

IronOak Wealth LLC. bought a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in 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 accounts for approximately 1.4% of IronOak Wealth LLC.'s investment portfolio, making the stock its 28th largest position.

A number of other large investors also recently made changes to their positions in CRM. Norges Bank acquired a new position in shares of Salesforce in the 4th quarter valued at about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Salesforce by 926.4% in 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 buying an additional 3,841,521 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Salesforce in the fourth quarter worth approximately $1,173,564,000. Invesco Ltd. increased its holdings in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after buying an additional 2,325,156 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insiders Place Their Bets

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 sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 3,273 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 transaction of $931,430.34. Following the completion of the sale, the insider now owns 125,146 shares in the company, valued at $35,614,048.68. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,553 shares of company stock worth $12,897,323 over the last 90 days. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

CRM traded down $8.67 during trading on Thursday, reaching $267.36. 28,033,232 shares of the company's stock were exchanged, compared to its average volume of 7,033,617. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $268.16 and a 200 day moving average price of $305.79. The company has a market capitalization of $257.03 billion, a P/E ratio of 43.97, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. 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 earned $2.44 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Analysts Set New Price Targets

A number of research firms recently commented on CRM. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a report on Wednesday. DA Davidson restated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a report on Wednesday. BMO Capital Markets dropped their price objective on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Finally, Oppenheimer reiterated an "outperform" rating and set a $370.00 price target (down previously from $380.00) on shares of Salesforce in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $342.90.

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.