Insiders Are Buying the Dip on These 5 Stocks

2. Salesforce.com, Inc. (NYSE:CRM)

Number of Hedge Fund Holders in Q1 2022: 114

Number of Hedge Fund Holders in Q4 2021: 110 

Decrease in Share Price Year-to-Date (through July 26th): 29.42%

Return since July 26th: -7.6%

Salesforce.com, Inc. (NYSE:CRM) is an application software firm. On May 31, the company posted earnings for the first quarter of 2022, reporting earnings per share of $0.98, beating analyst expectations by $0.04. The revenue over the period was $7.4 billion, up more than 24% compared to the revenue over the same period last year and beating market estimates by $30 million. The firm also raised the revenue guidance for the 2023 fiscal year to up to $7.70 billion, up 21% year-over-year. 

On July 18, Piper Sandler analyst Brent Bracelin maintained an Overweight rating on Salesforce.com, Inc. (NYSE:CRM) stock and lowered the price target to $220 from $250, noting that some software firms were better equipped than others to weather economic storms. 

Among 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 15.2 million shares worth more than $3.2 billion.

In its Q1 2022 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and Salesforce.com, Inc. (NYSE:CRM) was one of them. Here is what the fund said:

“Salesforce.com, Inc. (NYSE:CRM) is the dominant provider of customer relationship management software and technology. Salesforce has high retention rates, pricing power, high free cash flow, and a competitive moat. The company continues to execute well. Margins decreased slightly during the fourth quarter but continue to be on path for material expansion over the long term. Salesforce.com, Inc. (NYSE:CRM) is seeing increased spending as employees are returning to the office, and we believe the global pandemic has only improved its prospects.”