Starboard Value increased its holding in software provider Salesforce and trimmed a stake in web services company GoDaddy, according to a regulatory filing.
Starboard Value added to its bet on Salesforce by some 40% in the second quarter, while reducing a stake in web services company GoDaddy by more than 25%, according to a new regulatory filing. The Jeff Smith-run hedge fund upped its stake in the maker of customer relations management software by about $126 million, according to InsiderScore.com. Salesforce shares have slumped 3% this year, falling nearly 15% in the second quarter alone.
mountain Shares this year Smith also chopped Starboard's positions in Humana and Wix.com by 25% and 23%, respectively. According to a 13D filing published last month, the hedge fund revealed a new position totaling nearly $533 million in Tinder parent Match Group early in the third quarter. In July, CNBC reported that the activist hedge fund had acquired a roughly 6.5% stake in the online dating company.
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