Tuttle Tactical Management LLC acquired a new stake in Altaba (NASDAQ:AABA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,058 shares of the company’s stock, valued at approximately $1,470,000. Altaba accounts for approximately 1.8% of Tuttle Tactical Management LLC’s holdings, making the stock its 11th biggest holding.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. J. Goldman & Co LP grew its stake in shares of Altaba by 393.5% during the 4th quarter. J. Goldman & Co LP now owns 616,850 shares of the company’s stock worth $43,087,000 after purchasing an additional 491,850 shares during the period. Probabilities Fund Management LLC acquired a new position in shares of Altaba during the 4th quarter worth $210,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Altaba by 30.3% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,273,150 shares of the company’s stock worth $158,780,000 after purchasing an additional 529,000 shares during the period. Vanguard Capital Wealth Advisors acquired a new position in shares of Altaba during the 4th quarter worth $657,000. Finally, Cowen Inc. grew its stake in shares of Altaba by 3.2% during the 4th quarter. Cowen Inc. now owns 126,645 shares of the company’s stock worth $8,846,000 after purchasing an additional 3,975 shares during the period. 73.84% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of Altaba from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Vetr cut shares of Altaba from a “hold” rating to a “sell” rating and set a $73.32 price objective on the stock. in a research note on Tuesday, January 23rd. Credit Suisse Group increased their price objective on shares of Altaba from $81.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. increased their price objective on shares of Altaba to $90.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, UBS reissued a “buy” rating and issued a $98.00 price objective (up from $92.00) on shares of Altaba in a research note on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Altaba presently has an average rating of “Buy” and a consensus target price of $71.96.
Altaba stock opened at $76.50 on Thursday. The stock has a market cap of $69,058.00, a PE ratio of -3,901.55 and a beta of 2.00. Altaba has a 1-year low of $45.74 and a 1-year high of $80.56.
In other Altaba news, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $74.20, for a total value of $90,078,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alexi Wellman sold 1,262 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $76.90, for a total transaction of $97,047.80. Following the completion of the transaction, the chief financial officer now owns 16,643 shares in the company, valued at $1,279,846.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,217,202 shares of company stock worth $90,321,425. 24.00% of the stock is owned by insiders.
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Altaba Inc operates as a non-diversified, closed-end management investment company in the United States. Its assets consist primarily of equity investments, short-term debt investments, and cash. The company was formerly known as Yahoo! Inc and changed its name to Altaba Inc in June 2017. Altaba Inc was founded in 1994 and is based in New York, New York.
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