Palisade Capital Management LLC NJ increased its position in Altaba (NASDAQ:AABA) by 77.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,929 shares of the company’s stock after buying an additional 100,000 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Altaba were worth $16,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in AABA. Element Capital Management LLC bought a new stake in Altaba in the 4th quarter worth approximately $1,540,066,000. Hudson Bay Capital Management LP lifted its position in Altaba by 89.7% in the 4th quarter. Hudson Bay Capital Management LP now owns 7,167,499 shares of the company’s stock worth $500,650,000 after buying an additional 3,390,092 shares during the last quarter. Millennium Management LLC lifted its position in Altaba by 15.0% in the 4th quarter. Millennium Management LLC now owns 20,439,085 shares of the company’s stock worth $1,427,670,000 after buying an additional 2,671,283 shares during the last quarter. Discovery Capital Management LLC CT bought a new stake in Altaba in the 4th quarter worth approximately $122,391,000. Finally, Lazard Asset Management LLC lifted its position in Altaba by 96.2% in the 4th quarter. Lazard Asset Management LLC now owns 3,013,517 shares of the company’s stock worth $210,494,000 after buying an additional 1,477,332 shares during the last quarter. Institutional investors own 71.41% of the company’s stock.
Shares of Altaba stock opened at $77.02 on Tuesday. The company has a market capitalization of $66.32 billion, a price-to-earnings ratio of 303.72 and a beta of 1.96. Altaba has a one year low of $49.90 and a one year high of $80.56.
In other Altaba news, CFO Alexi Wellman sold 1,940 shares of Altaba stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $75.04, for a total value of $145,577.60. Following the transaction, the chief financial officer now directly owns 17,905 shares of the company’s stock, valued at approximately $1,343,591.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.00% of the stock is owned by insiders.
A number of research firms recently weighed in on AABA. BidaskClub downgraded Altaba from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Vetr downgraded Altaba from a “hold” rating to a “sell” rating and set a $73.32 target price for the company. in a research report on Tuesday, January 23rd. MKM Partners boosted their target price on Altaba to $124.00 in a research report on Friday. ValuEngine upgraded Altaba from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Credit Suisse Group lifted their price target on Altaba from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Altaba has an average rating of “Buy” and an average price target of $85.06.
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.
Want to see what other hedge funds are holding AABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altaba (NASDAQ:AABA).
Receive News & Ratings for Altaba Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altaba and related companies with MarketBeat.com's FREE daily email newsletter.