5 Best Tech and Dividend Stocks to Buy According to Billionaire Chase Coleman

3. Salesforce.com, inc. (NYSE: CRM) 

Coleman’s Stake Value: $484,907,000
Percentage of Chase Coleman’s 13F Portfolio: 1.11%
Number of Hedge Fund Holders: 91

salesforce.com, inc. (NYSE: CRM) is an American cloud-based software company, which provides customer relationship management platform. The company stock has offered investors more than 36% in returns over the course of the past twelve months. It was founded in 1999 and stands third on our list of 10 best tech and dividend stocks to buy according to billionaire Chase Coleman.

Salesforce posted earnings for the first quarter of 2021 on May 27, reporting earnings per share of $1.21, beating market predictions by $0.33. The revenue for the first three months of 2021 was $5.96 billion, up 22.57% YoY, beating the estimates by $73.32 million. In May, the stock was rated as “Overweight” at Morgan Stanley, where the price target was set at $270.00. 

The hedge fund run by Chase Coleman owns more than 2.29 million shares in salesforce worth over $484 million, representing 1.11% of their portfolio. Out of the hedge funds being tracked by Insider Monkey, Fisher Asset Management is a leading shareholder in salesforce.com, inc. (NYSE: CRM) with 12.95 million shares worth more than $2.74 billion. Based on our calculations, salesforce.com, inc. (NYSE: CRM) ranks 27th in our list of the 30 Most Popular Stocks Among Hedge Funds.

ClearBridge Investments, in its Q1 2021 investor letter, mentioned salesforce. Here is what Polen Global Growth Fund has to say about salesforce in its letter:

“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.”