Starboard Value increased its Salesforce stake by nearly 50% in the second quarter, according to CNBC. The hedge fund held 1.3 million Salesforce shares on June 30, up from 849,679 shares in the first quarter after boosting its stake by nearly 52%. The move comes as Salesforce’s stock has fallen nearly 30% since January and about 9% over the past year. The move comes as Salesforce shares have dropped nearly 30% since January and about 9% over the past year, reversing some of 2023’s near-100% gain. Starboard was among the activist investors pushing for changes at Salesforce in 2022 and 2023. CEO Jeffrey Smith has said the company still has room to boost efficiency and profitability.
