Canton Hathaway LLC Has $400,000 Stock Holdings in salesforce.com, inc. (NYSE:CRM)

Canton Hathaway LLC lifted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 737.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,474 shares of the CRM provider’s stock after purchasing an additional 1,298 shares during the period. Canton Hathaway LLC’s holdings in salesforce.com were worth $400,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of salesforce.com by 0.4% during the second quarter. Vanguard Group Inc. now owns 71,205,534 shares of the CRM provider’s stock worth $17,393,375,000 after purchasing an additional 299,606 shares during the period. State Street Corp raised its position in shares of salesforce.com by 1.7% during the second quarter. State Street Corp now owns 41,409,350 shares of the CRM provider’s stock worth $10,115,062,000 after purchasing an additional 707,629 shares during the period. Morgan Stanley raised its position in shares of salesforce.com by 20.2% during the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after purchasing an additional 2,787,393 shares during the period. Geode Capital Management LLC raised its position in shares of salesforce.com by 3.8% during the second quarter. Geode Capital Management LLC now owns 13,774,687 shares of the CRM provider’s stock worth $3,353,737,000 after purchasing an additional 499,029 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of salesforce.com by 3.6% during the second quarter. Fisher Asset Management LLC now owns 13,420,800 shares of the CRM provider’s stock valued at $3,278,299,000 after buying an additional 467,815 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.

CRM has been the topic of a number of research analyst reports. Truist Securities lifted their price target on salesforce.com from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, September 24th. Evercore ISI lifted their price target on salesforce.com from $325.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, September 24th. They noted that the move was a valuation call. Sanford C. Bernstein lifted their price target on salesforce.com from $266.00 to $290.00 and gave the company a “market perform” rating in a report on Thursday, August 26th. Zacks Investment Research downgraded salesforce.com from a “hold” rating to a “sell” rating and set a $273.00 price target on the stock. in a report on Wednesday, August 25th. Finally, Nord/LB set a $275.00 price target on salesforce.com in a report on Tuesday, September 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $320.59.

In other news, CEO Marc Benioff sold 68,008 shares of the company’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $301.74, for a total value of $20,520,733.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 510 shares of the stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $293.19, for a total value of $149,526.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 737,826 shares of company stock worth $205,921,946. Corporate insiders own 4.10% of the company’s stock.

salesforce.com stock traded down $2.25 during trading hours on Thursday, hitting $289.17. The stock had a trading volume of 5,090,392 shares, compared to its average volume of 6,067,207. The company has a 50-day moving average of $288.13 and a two-hundred day moving average of $259.25. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $283.10 billion, a PE ratio of 116.13, a price-to-earnings-growth ratio of 8.37 and a beta of 1.07. salesforce.com, inc. has a fifty-two week low of $201.51 and a fifty-two week high of $311.75.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the prior year, the company posted $1.44 EPS. The company’s revenue was up 23.1% compared to the same quarter last year. As a group, analysts forecast that salesforce.com, inc. will post 2.15 EPS for the current fiscal year.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

See Also: Balanced Fund

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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