In this article, we will look at billionaire Ken Fisher’s top 5 growth stock picks. If you want to explore similar stocks, you can also read “That Which Drops the Most, Bounces the Most”: Ken Fisher’s Top 10 Growth Stock Picks.
5. Salesforce, Inc. (NYSE:CRM)
Fisher Asset Management’s Stake Value: $2,586,996,000
Percentage of Fisher Asset Management’s 13F Portfolio: 1.83%
Number of Hedge Fund Holders: 116
On September 21, Salesforce, Inc. (NYSE:CRM) announced a strategic collaboration with leading insurance-tech company Zywave. Salesforce, Inc. (NYSE:CRM) and Zywave will jointly develop an industry-leading CRM platform for the insurance industry which will include real-time insurance quoting and policy management services among others.
Wall Street sees upside to Salesforce, Inc. (NYSE:CRM). On September 15, Guggenheim analyst John DiFucci reiterated his $150 price target on Salesforce, Inc. (NYSE:CRM) and upgraded the stock to Neutral from Sell. On September 19, Raymond James analyst Brian Peterson reiterated his Strong Buy rating and $225 price target on Saleforce, Inc. (NYSE:CRM) and added the stock to Raymond James’ “Analyst Current Favorite” List.
Insider Monkey spotted Salesforce, Inc. (NYSE:CRM) on 116 hedge fund portfolios. The total stakes of these hedge funds amounted to $7.90 billion. As of June 30, Fisher Asset Management’s stake in Salesforce, Inc. (NYSE:CRM) sits at $2.58 billion. The investment covers 1.83% of Ken Fisher’s 13F portfolio.
“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.”