Here’s What Makes Salesforce (CRM) A Great Investment

ClearBridge Investments, an investment management firm, published its “Large Cap Growth Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Growth Strategy underperformed its Russell 1000 Growth Index benchmark during the third quarter. On an absolute basis, the Strategy had gains across four of the eight sectors in which it was invested (out of 11 sectors total). The leading contributors to performance were in the IT and health care sectors, while the consumer discretionary and industrials sectors were detractors. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Large Cap Growth Strategy, in its Q3 2021 investor letter, mentioned salesforce.com, inc. (NYSE: CRM) and discussed its stance on the firm. salesforce.com, inc. is a San Francisco, California-based software company with a $224.8 billion market capitalization. CRM delivered a -10.16% return since the beginning of the year, while its 12-month returns are up by 2.82%. The stock closed at $228.31 per share on January 07, 2022.

Here is what ClearBridge Large Cap Growth Strategy has to say about salesforce.com, inc.  in its Q3 2021 investor letter:

“On an individual stock basis, leading contributors to absolute returns in the third quarter included positions in Salesforce.com. Meanwhile, with a new CFO focused on delivering consistent growth and expanding margins, Salesforce could soon surpass SAP as the world’s largest enterprise applications provider with an all-subscription-based model. The recent acquisition of Slack should better connect the company’s products and services with its users as the messaging platform becomes more dynamic and interactive.”

Photo by Austin Distel on Unsplash

Based on our calculations, salesforce.com, inc. (NYSE: CRM) ranks 11th in our list of the 30 Most Popular Stocks Among Hedge Funds. CRM was in 119 hedge fund portfolios at the end of the third quarter of 2021, compared to 108 funds in the previous quarter. salesforce.com, inc. (NYSE: CRM) delivered a -16.21% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on CRM in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.