NEW YORK, Reuters 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.

Third Point LLC, which had owned 800,000 shares earlier this year, no longer owned any shares on June 30, its filing shows.

The changes in ownership came after significant overhauls at Salesforce helped push its share price higher.

Inclusive Capital Management, one of four activists closely involved with Salesforce in early 2023 along with Starboard, Elliott Investment Management and ValueAct Capital, exited even earlier, according to filings.

After Inclusive owned 1.6 million shares at the end of 2022, Salesforce was no longer listed on filings detailing ownership for the first or second quarters.

Pressure built on Salesforce and its CEO Marc Benioff during the first months of 2023. But cost cuts, news that it was boosting its share buybacks and dismantling its mergers and acquisition committee, plus strongerthanexpected fourth quarter growth went a long way to quiet the activists, sources familiar with the matter said.

The company also added Mason Morfit, the cochief…