Reported Earlier, 'ValueAct Increases Salesforce Stake To Nearly $1B, Sending Shares Up' - CNBC
Portfolio Pulse from Benzinga Newsdesk
ValueAct has increased its stake in Salesforce to nearly $1 billion, which has sent Salesforce shares up by around 3.5%. This move comes shortly after Salesforce reported its first revenue miss since 2006. Mason Morfit, ValueAct's co-CEO and Salesforce board member, disclosed the trade, signaling confidence in the company despite recent financial setbacks.
June 06, 2024 | 2:55 pm
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ValueAct has increased its stake in Salesforce to nearly $1 billion, which has sent Salesforce shares up by around 3.5%. This move comes shortly after Salesforce reported its first revenue miss since 2006.
The increased stake by ValueAct, a significant investor, signals strong confidence in Salesforce despite its recent revenue miss. This has positively impacted the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100