Laurel Grove Capital LLC lifted its position in shares of Altaba Inc (NASDAQ:AABA) by 439.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,800 shares of the company’s stock after buying an additional 14,500 shares during the period. Laurel Grove Capital LLC’s holdings in Altaba were worth $1,243,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of Altaba by 14.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,735 shares of the company’s stock worth $610,000 after acquiring an additional 1,106 shares in the last quarter. Brighton Jones LLC acquired a new stake in Altaba during the 3rd quarter valued at $216,000. Personal Capital Advisors Corp acquired a new stake in Altaba during the 4th quarter valued at $287,000. TT International grew its holdings in Altaba by 11.0% during the 3rd quarter. TT International now owns 55,484 shares of the company’s stock valued at $3,675,000 after purchasing an additional 5,484 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in Altaba during the 4th quarter valued at $476,000. 79.68% of the stock is currently owned by institutional investors and hedge funds.
Altaba Inc (AABA) traded up $2.35 during trading on Wednesday, hitting $73.66. 7,996,160 shares of the stock traded hands, compared to its average volume of 7,610,000. The stock has a market capitalization of $64,330.00, a P/E ratio of 39.39 and a beta of 2.01. Altaba Inc has a 1-year low of $44.64 and a 1-year high of $80.56.
In other Altaba news, Director Tor Braham sold 10,000 shares of Altaba 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 sale, the director now directly owns 9,434 shares in the company, valued at $649,342.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alexi Wellman sold 860 shares of Altaba 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 sale, the chief financial officer now owns 19,845 shares of the company’s stock, valued at $1,444,517.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,224,860 shares of company stock valued at $90,829,699. 24.00% of the stock is currently owned by corporate insiders.
AABA has been the subject of several recent analyst reports. BidaskClub lowered shares of Altaba from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Vetr upgraded shares of Altaba from a “sell” rating to a “hold” rating and set a $73.32 price target on the stock in a research report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $60.78.
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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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