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Starboard Value's Jeff Smith added to his GoDaddy holding while trimming his lucrative activist bet in Salesforce , according to a new regulatory filing. The hedge fund increased its stake in GoDaddy to nearly $925 million, making the web services company its biggest holding. Starboard continued to trim its stake in customer relations management software company Salesforce , which in 2022, he took an activist stake in. The filing also reveals a few new stakes for Starboard, including News Corp and Fortrea . CNBC had already reported on these stakes when Smith appeared at a conference in last year.
Persons: Jeff Smith, Smith, He's Organizations: Wharton, News Corp, Fortrea, CNBC Locations: Salesforce, GoDaddy, New York
Starboard Value's Jeffrey Smith, one of the busiest activist investors for two decades, said companies have grown more receptive to voices like him. Smith also sought a turnaround at pizza chain Papa John's in 2019 at a tumultuous time for the company . The Starboard CEO was even active during the Covid-19 pandemic . We're simultaneously respected and feared inside companies," Smith said. "More often than not, now the conversations are highly constructive and respectful and relatively easy," Smith said.
Persons: Jeffrey Smith, Smith, , we've, I'm, We're Organizations: CNBC's Financial, Olive, Darden, Mercury Systems, Wharton Locations: New York
Starboard Value's Jeffrey Smith has called artificial intelligence "an enormous opportunity," and there are hints of his enthusiasm in his latest, quarterly 13F filing to SEC. The activist investor drastically increased his stake in Wix.com , making it his ninth-biggest holding at the end of June. The hedge fund manager said there's more room for Salesforce to grow and the stock can rally another 30% on the back of the AI boom. Nine years later he spun out his New York-based hedge fund and became the CEO. The hedge fund manager also added a relatively small stake in British life science company Abcam PLC last quarter.
Persons: Jeffrey Smith, Wix.com, Smith, There's, blockchain, there's, Splunk Organizations: SEC, Acacia Research, CNBC, Abcam Locations: Wix.com, Salesforce, New York
Starboard Value's Jeffrey Smith has been one of the busiest activist investors over the last two decades, best known for his proxy fights in the restaurant space. Darden shares saw a nearly 60% jump under Smith's activism, from October 2014 to April 2016. After Darden, Smith sought a turnaround at pizza chain Papa Johns , taking a $200 million stake in the company and becoming chairman in 2019. Smith took an activist stake in software company Salesforce last year. The Starboard CEO was even active during the Covid pandemic, calling for changes at Humana, Kohl's, Mercury Systems and other companies.
Persons: Jeffrey Smith, Smith, Darden, Papa, John Schnatter Organizations: Olive, Darden, Wharton grad, Mercury Systems Locations: New York
"AI is an enormous opportunity," Smith said Tuesday on CNBC's " Squawk on the Street ." The internet was one to start with ... maybe you talk about cryptocurrency blockchain and then you might talk about AI." Smith said AI is an "enormous opportunity" for Salesforce , the software company that he took an activist stake in in 2022. Revenue growth did slow a little bit, which was expected," Smith said of Salesforce. Smith said he's also bullish on software name Splunk , which he said is slightly behind Salesforce in terms of execution.
Persons: Jeff Smith, Smith, blockchain, chatbot, they've, Salesforce, there's, he's Organizations: Nvidia, Ramius Locations: York
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