5 Tech Stocks To Buy According To Billionaire George Soros

In this article, we discuss 5 tech stocks to buy according to billionaire George Soros. If you want our detailed analysis of these stocks, go directly to 10 Tech Stocks To Buy According To Billionaire George Soros. 

5. salesforce.com, inc. (NYSE:CRM)

Soros Fund Management’s Stake Value: $30,105,000

Percentage of Soros Fund Management’s 13F Portfolio: 0.55%

Number of Hedge Fund Holders: 119

salesforce.com, inc. (NYSE:CRM) is a California-based cloud computing company focused on providing customer relationship management services worldwide. Hedge fund sentiment was positive around salesforce.com, inc. (NYSE:CRM) in Q3 2021, with 119 funds holding long positions in the company, up from 108 funds in the prior quarter. 

Soros Fund Management started building its position in salesforce.com, inc. (NYSE:CRM) back in Q1 2012, but the fund was inconsistent with its stake in the company, buying and selling off shares entirely over the years. Heading into Q3 2021, Soros Fund Management held 111,000 salesforce.com, inc. (NYSE:CRM) shares, worth $30.1 million, representing 0.55% of the total 13F securities for the period. 

On February 7, Loop Capital analyst Yun Kim lowered the price target on salesforce.com, inc. (NYSE:CRM) to $225 from $275 and kept a Hold rating on the shares as part of a broader research note on the software sector. The analyst stated that his checks into salesforce.com, inc. (NYSE:CRM) suggest largely steady business trends driven by a consistent volume of smaller and medium-sized expansion deals, though his reduced price target reflects expected lower cash flow estimates in 2024 and beyond.

Among the hedge funds tracked by Insider Monkey, Fisher Asset Management held the largest stake in salesforce.com, inc. (NYSE:CRM) in Q3 2021, with roughly 14 million shares worth $3.7 billion. 

Here is what ClearBridge Large Cap Growth Strategy has to say about salesforce.com, inc. (NYSE:CRM) 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.”