48,764 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 48,764 shares of the CRM provider's stock, valued at approximately $16,303,000. Salesforce makes up 0.1% of Brevan Howard Capital Management LP's portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also added to or reduced their stakes in CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now owns 11,711 shares in the company, valued at approximately $3,220,525. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $12,907,361 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. Westpark Capital reaffirmed a "buy" rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, April 30th. Morgan Stanley reduced their price objective on Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research note on Friday, April 25th. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average price target of $350.56.

Salesforce Stock Performance

NYSE:CRM traded up $4.86 during mid-day trading on Wednesday, reaching $278.22. 4,267,505 shares of the stock were exchanged, compared to its average volume of 6,827,672. The stock has a market capitalization of $267.48 billion, a P/E ratio of 45.76, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a 50 day simple moving average of $268.22 and a 200-day simple moving average of $307.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. Salesforce's payout ratio is presently 26.10%.

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.