Crypto Bull Steve Cohen is Buying These 5 Stocks

2. Salesforce.com,  Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 108 

Salesforce.com,  Inc. (NYSE:CRM) is placed second on our list of 10 stocks that crypto bull Steve Cohen is buying. The company makes and sells cloud computing solutions and is headquartered in California. Latest data reveals that Point72 Asset Management owned over 2 million shares in the company at the end of the second quarter of 2021 worth $510 million, representing 2.29% of the portfolio. 

On August 27, investment advisory Loop Capital maintained a Hold rating on Salesforce.com,  Inc. (NYSE:CRM) stock but raised the price target to $265 from $235, noting that the second quarter results and growth trajectory of the firm remained “solid”. 

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 13.4 million shares worth more than $3.2 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.”