Investors bought shares of Altaba Inc. (NASDAQ:AABA) on weakness during trading on Friday. $82.88 million flowed into the stock on the tick-up and $29.89 million flowed out of the stock on the tick-down, for a money net flow of $52.99 million into the stock. Of all stocks tracked, Altaba had the 12th highest net in-flow for the day. Altaba traded down ($0.29) for the day and closed at $75.85
A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Altaba from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. UBS Group reiterated a “buy” rating and set a $77.00 price objective on shares of Altaba in a research note on Friday, September 22nd. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $54.45.
The stock has a market capitalization of $66,250.00, a P/E ratio of 40.56 and a beta of 1.88.
In related news, Director Tor Braham sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $68.83, for a total value of $688,300.00. Following the completion of the transaction, the director now owns 9,434 shares in the company, valued at approximately $649,342.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alexi Wellman sold 860 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $72.79, for a total transaction of $62,599.40. Following the completion of the transaction, the chief financial officer now owns 19,845 shares of the company’s stock, valued at approximately $1,444,517.55. The disclosure for this sale can be found here. Company insiders own 24.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in Altaba in the 3rd quarter valued at approximately $505,000. Russell Investments Group Ltd. raised its holdings in Altaba by 409.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 86,452 shares of the company’s stock valued at $5,727,000 after buying an additional 69,488 shares during the last quarter. 683 Capital Management LLC raised its holdings in Altaba by 8.3% in the 3rd quarter. 683 Capital Management LLC now owns 325,000 shares of the company’s stock valued at $21,528,000 after buying an additional 25,000 shares during the last quarter. Atlantic Trust Group LLC raised its holdings in Altaba by 97.8% in the 3rd quarter. Atlantic Trust Group LLC now owns 41,370 shares of the company’s stock valued at $2,740,000 after buying an additional 20,458 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Altaba by 6,364.1% in the 3rd quarter. SG Americas Securities LLC now owns 261,927 shares of the company’s stock valued at $17,350,000 after buying an additional 257,875 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.
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Altaba Inc (the Fund), formerly Yahoo! Inc, is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation ((Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan.
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