By Svea Herbst-Bayliss

NEW YORK (Reuters) -Activist Starboard Value, one of the first investors to publicly push Salesforce to make changes three years ago, increased its stake in the U.S. software company by almost 50% in the second quarter, according to a regulatory filing on Thursday.

The hedge fund reported owning 1.3 million shares in Salesforce on June 30, compared with 849,679 shares at the end of the first quarter when it boosted its stake by almost 52%.

The move comes as the company’s stock price has lost nearly 30% since January and is off nearly 9% over the last 12 months.

Salesforce, which has a market value of $223 billion, came under intense pressure from a handful of activist investors in late 2022 and early 2023. But many who publicly pushed for changes cut their stakes

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