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By Svea Herbst-Bayliss NEW YORK (Reuters) - Several investment managers whose performance was pummeled when technology stocks skidded lower last year . ....
Salesforce Inc was heavily criticized by several activist investors in early 2023 but by the end of June, after results came in better than expected and a new director was added, filings show some cut their stakes or exited completely. Starboard Value, among the first to publicly push the U.S. software company in October to do better calling for a greater focus on profitability, cut its stake by 20% to own roughly 2 million shares on June 30, according to a regulatory filing. The changes in ownership came after significant overhauls at Salesforce helped push its share price higher. ....
Tech Investors: Tiger Global Management increased its holding of Nvidia, whose semiconductors back artificial-intelligence systems and whose market value topped $1 trillion in June, by 1,332%, the filing showed. ....
Several investment managers whose performance was pummeled when technology stocks skidded lower last year put fresh money into the handful of companies that are pulling the stock market higher. -Today at 04:14 pm- MarketScreener ....
Several investment managers whose performance was pummeled when technology stocks skidded lower last year put fresh money into the handful of companies that are pulling the stock market higher this year, new regulatory filings show. Glen Kacher's Light Street Capital, one of a handful of hedge funds that posted double-digit losses last year, reported a new position in retailer Amazon.com in the second quarter and said it boosted its stake in technology company Meta Platforms by 27%, according to a new regulatory filing. Amazon's share price has gained 63% since January while Meta's has climbed 144.5%. ....