5 Stocks Cathie Wood Is Selling

2. Salesforce.com,  Inc. (NYSE: CRM)

Number of Hedge Fund Holders: 91  

Salesforce.com,  Inc. (NYSE: CRM) is a company that markets cloud computing solutions. It is ranked second on our list of 10 stocks Cathie Wood is selling. The company’s shares have offered investors returns exceeding 24% over the course of the past year. Wood sold off the entire stake of ARK Investment Management in the cloud firm during the first three months of this year.

On July 1, Salesforce.com,  Inc. (NYSE: CRM) announced that it had partnered with Datadog, a cloud monitoring service, to provide administration and security with the ability to respond to suspicious behaviour. The deal strengthens the internal security of the firm. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Salesforce.com,  Inc. (NYSE: CRM)  with 12.9 million shares worth more than $2.7 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Salesforce.com,  Inc. (NYSE: CRM) was one of them. Here is what the fund said:

“We added to our software-as-a-service (SaaS) exposure with the initiation of SaaS leader salesforce.com, which develops software for customer relationship management (we added Workday, which enterprise resource planning applications, last quarter). Saleforce.com is well-positioned in the most attractive end markets in software and will benefit from secular drivers such as remote work and the digital transformation. Salesforce.com is a sustainability leader as well, with a commitment to carbon-neutral cloud, toward which it has set a goal of 100% renewable energy for global operations by fiscal year 2022. The company has a strong focus on equality, in terms of equal rights, pay, education and opportunity. As a data company it has been leading on workforce disclosures and seeks to have 50% of its U.S. workforce made up of underrepresented groups by 2024.”