15 Dow Stocks Listed and Ranked By 2022 Hedge Fund Bullishness Index

4. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 114

Salesforce, Inc. (NYSE:CRM) is an industry-leader in customer relationship management (CRM) technology and offers various cloud-based software applications. Stifel analyst J. Parker Lane gave CRM a ‘Buy’ rating on June 1, noting that the firm’s geographic diversification and product line-up gives it some insulation against a weakening macro backdrop.

Top money managers were seen piling into Salesforce, Inc. (NYSE:CRM) stock in the first quarter. At the close of the first quarter, 114 hedge funds were bullish on CRM shares with collective stakes worth $9.89 billion. This is in comparison to 110 hedge funds a quarter earlier. With a massive $3.23 billion stake that was recently increased by 5%, Fisher Asset Management was the leading shareholder of Salesforce, Inc. (NYSE:CRM) in the first quarter of 2022.

Asset management firm Vulcan Value Partners talked about Salesforce, Inc. (NYSE:CRM) in its Q1 2022 investor letter. Here is what it said:

“Salesforce.com Inc. 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 is seeing increased spending as employees are returning to the office, and we believe the global pandemic has only improved its prospects.”