Activists back off Salesforce after share price recovery
- Joseph K
- Aug 13, 2023
- 1 min read
Salesforce Inc (CRM.N) was heavily criticized by several activist investors in early 2023 but by the end of June, after results came in better than expected and a new director was added, filings show some cut their stakes or exited completely.
Starboard Value, among the first to publicly push the U.S. software company in October to do better calling for a greater focus on profitability, cut its stake by 20% to own roughly 2 million shares on June 30, according to a regulatory filing.
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