IronOak Wealth LLC. Buys New Shares in Salesforce Inc. $CRM

Key Points

• IronOak Wealth LLC recently invested approximately $2.06 million in Salesforce Inc., purchasing 7,543 shares, making it the fund's 17th biggest position.
• CEO Marc Benioff sold 2,250 shares of Salesforce stock for around $551,452.50, while Director David Blair Kirk increased their investment by purchasing 3,400 shares valued at $865,844.
• Salesforce reported a quarterly earnings per share of $2.91, exceeding estimates, with revenues of $10.24 billion, marking a 9.8% increase year-over-year.

IronOak Wealth LLC. acquired a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,543 shares of the CRM provider's stock, valued at approximately $2,060,000. Salesforce makes up 2.0% of IronOak Wealth LLC.'s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also modified their holdings of the stock. Coign Capital Advisors LLC grew its holdings in shares of Salesforce by 1.7% in the 1st quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock worth $586,000 after purchasing an additional 37 shares during the last quarter. Staley Capital Advisers Inc. increased its holdings in shares of Salesforce by 1.1% during the first quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider's stock worth $897,000 after buying an additional 38 shares in the last quarter. KDT Advisors LLC raised its stake in shares of Salesforce by 4.1% in the first quarter. KDT Advisors LLC now owns 967 shares of the CRM provider's stock valued at $260,000 after acquiring an additional 38 shares during the last quarter. Liberty One Investment Management LLC boosted its holdings in shares of Salesforce by 1.2% in the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after acquiring an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its position in Salesforce by 7.3% during the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after acquiring an additional 39 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CRM. Piper Sandler reduced their price objective on Salesforce from $335.00 to $315.00 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. BMO Capital Markets decreased their price objective on shares of Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Royal Bank Of Canada reduced their target price on shares of Salesforce from $275.00 to $250.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 4th. Finally, Morgan Stanley boosted their price objective on shares of Salesforce from $404.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $332.58.

Insider Buying and Selling at Salesforce

In other news, Director David Blair Kirk acquired 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the acquisition, the director owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $245.09, for a total value of $551,452.50. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,919,406,936.39. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,250 shares of company stock worth $18,844,155 over the last ninety days. 3.00% of the stock is currently owned by insiders.

Salesforce Trading Up 1.0%

Salesforce stock traded up $2.55 during mid-day trading on Monday, hitting $249.64. 7,518,279 shares of the company's stock were exchanged, compared to its average volume of 10,219,225. The company's 50 day simple moving average is $250.58 and its 200-day simple moving average is $262.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $237.66 billion, a P/E ratio of 36.28, a PEG ratio of 2.25 and a beta of 1.22. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $2.56 earnings per share. Salesforce's revenue was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, equities analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) is presently 24.13%.

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.