David Einhorn, the hedge-fund manager who earlier this year said Microsoft CEO Steve Ballmer had to go, has increased his stake in Microsoft.
The Wall Street Journal said that in a regulatory filing, Einhorn’s Greenlight Capital reported a stake in Microsoft that totaled roughly 14.8 million shares as of June 30. That’s compared with about 9.1 million shares at the end of the previous quarter.
In May, as mentioned in this blog, Einhorn said it was time for the Microsoft board to say: “We’ve seen what you can do,” according to The Wall Street Journal. Ballmer has been CEO for the past 10 years.
Ballmer is the reason the stock is performing poorly, Einhorn said in the Journal’s May story, adding Ballmer’s “continued presence is the biggest overhang on Microsoft stock.”
That said, Einhorn also said in that article that “Microsoft’s business has been much stronger than the average company in the S&P in the past five years” and that “Microsoft isn’t getting credit for some of its achievements and prospects.”
Which would probably explain why he increased his stake in Microsoft, despite dissing its CEO.