Activist investor Starboard Value increased its stake in Salesforce by nearly 50% in the second quarter, now owning 1.3 million shares. The move comes as Salesforce’s stock price has dropped nearly 30% since January. Starboard previously pressured the company for changes in 2022 and 2023, and may be doing so again.

Starboard also raised its holding in Pfizer by 10.5% to 8.5 million shares, less than a year after unveiling a $1 billion stake in the drugmaker. The hedge fund settled a fight with Autodesk in April, cutting its stake by nearly 27%. These moves signal potential investment trends and continued activism in various companies.

Despite Salesforce’s stock price rising nearly 100% in 2023, Starboard’s CEO Jeffrey Smith believes the company can still improve efficiency and profitability. The firm’s increased stake in Salesforce and Pfizer, along with reduced stake in Autodesk, reflect ongoing efforts to drive changes and enhance shareholder value.

Read more at Yahoo Finance: Activist Starboard buys more Salesforce stock after first demanding change in 2022