Investors bought shares of Altaba Inc (NASDAQ:AABA) on weakness during trading hours on Friday. $170.74 million flowed into the stock on the tick-up and $93.19 million flowed out of the stock on the tick-down, for a money net flow of $77.55 million into the stock. Of all stocks tracked, Altaba had the 31st highest net in-flow for the day. Altaba traded down ($1.61) for the day and closed at $74.40
Several brokerages recently weighed in on AABA. BidaskClub upgraded shares of Altaba from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Vetr downgraded shares of Altaba from a “hold” rating to a “sell” rating and set a $73.32 price objective on the stock. in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Altaba presently has an average rating of “Hold” and an average target price of $60.78.
The company has a market cap of $64,980.00, a P/E ratio of 39.79 and a beta of 2.01.
In other Altaba news, Director Tor Braham sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $68.83, for a total transaction of $688,300.00. Following the transaction, the director now owns 9,434 shares of the company’s stock, valued at approximately $649,342.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $74.20, for a total transaction of $90,078,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,224,860 shares of company stock worth $90,829,699. 24.00% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN acquired a new position in shares of Altaba in the 2nd quarter worth approximately $128,338,000. Canada Pension Plan Investment Board grew its stake in shares of Altaba by 315.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 5,926,117 shares of the company’s stock worth $392,546,000 after purchasing an additional 4,500,000 shares during the last quarter. Opera Trading Capital grew its stake in shares of Altaba by 8,700.7% in the 3rd quarter. Opera Trading Capital now owns 79,206 shares of the company’s stock worth $5,247,000 after purchasing an additional 78,306 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Altaba by 409.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 86,452 shares of the company’s stock worth $5,727,000 after purchasing an additional 69,488 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Altaba by 6,364.1% in the 3rd quarter. SG Americas Securities LLC now owns 261,927 shares of the company’s stock worth $17,350,000 after purchasing an additional 257,875 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.
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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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