Nancy Pelosi Latest Portfolio: 2 Stocks to Watch

In this article, we discuss the 2 stocks to consider in the latest portfolio of Nancy Pelosi. If you want to read our detailed analysis of these stocks, go directly to Nancy Pelosi Latest Portfolio: Stocks to Watch.

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

Number of Hedge Fund Holders: 119 

Salesforce.com, Inc. (NYSE:CRM) provides enterprise cloud computing solutions. Latest filings show that Pelosi purchased 130 CALL options on Salesforce.com, Inc. (NYSE:CRM) stock with a strike price of $210 on December 20 with an expiration date of January 2023. The purchase cost was between $500,000 and $1, 250,000. The transaction was disclosed on the same day it was made. Salesforce.com, Inc. (NYSE:CRM) stock, as of January 12, is trading at $234 per share.  

Salesforce.com, Inc. (NYSE:CRM) has attracted interest from top hedge funds in the past few months as spending on IT infrastructure and cloud increases in the wake of the pandemic. At the end of the third quarter of 2021, 119 hedge funds in the database of Insider Monkey held stakes worth $14.9 billion in Salesforce.com, Inc. (NYSE:CRM), up from 108 in the preceding quarter worth $11.7 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.”