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Activist hedge fund Third Point is said to have a stake in Salesforce (NYSE:CRM) after several other high-profile investors have also taken stakes in the enterprise software.
The size of Third Point’s involvement in Salesforce (CRM) was not known, according to press reports from the wsj and Reuters On Wednesday.
The news comes after Salesforce Inc. announced late last month that it was adding three new independent directors to its board as it faces pressure from a number of different activist investors. Salesforce said it would add Mason Morfit, CEO and chief investment officer of activist investor ValueAct, to its board.
Noted activist investor Elliott Management is also preparing to nominate a list of directors for Salesforce’s (CRM) board of directors, according to a WSJ report. Elliott racked up a multi-million dollar investment in Salesforce.
Inclusive Capital of activist Jeff Ubben also owns more than 1.5 million shares of Salesforce (CRM), a stake valued at about $250 million, the WSJ also reported.
News of Third Point’s bet also comes after activist investor Starboard Value disclosed a position in Salesforce (CRM) in October. Starboard, led by Jeff Smith, is said to argue that Salesforce could achieve much higher margins than it currently generates.
It was revealed earlier Wednesday that Third Point, led by Dan Loeb, acquired a stake in AIG insurer (AIG) in the fourth quarter, according to the fund’s fourth-quarter investor letter.
