Investors sold shares of Altaba Inc (NASDAQ:AABA) on strength during trading on Tuesday. $39.24 million flowed into the stock on the tick-up and $231.38 million flowed out of the stock on the tick-down, for a money net flow of $192.14 million out of the stock. Of all equities tracked, Altaba had the 0th highest net out-flow for the day. Altaba traded up $1.08 for the day and closed at $74.59
A number of research analysts have issued reports on AABA shares. BidaskClub downgraded shares of Altaba from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Vetr raised shares of Altaba from a “sell” rating to a “hold” rating and set a $73.32 price objective 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 issued a buy rating to the company’s stock. Altaba presently has an average rating of “Buy” and an average target price of $61.46.
The company has a market capitalization of $65,145.26, a PE ratio of 298.36 and a beta of 2.01.
In related news, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tor Braham sold 10,000 shares of the 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 sale, the director now directly owns 9,434 shares in the company, valued at $649,342.22. The disclosure for this sale can be found here. 24.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. grew its position in Altaba by 5.1% during the 4th quarter. First Republic Investment Management Inc. now owns 16,825 shares of the company’s stock valued at $1,175,000 after purchasing an additional 815 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Altaba by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,735 shares of the company’s stock valued at $610,000 after purchasing an additional 1,106 shares during the last quarter. Commerce Bank grew its position in Altaba by 22.8% during the 4th quarter. Commerce Bank now owns 6,190 shares of the company’s stock valued at $433,000 after purchasing an additional 1,150 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Altaba during the 4th quarter valued at about $103,000. Finally, Bronfman E.L. Rothschild L.P. grew its position in Altaba by 57.2% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 5,617 shares of the company’s stock valued at $392,000 after purchasing an additional 2,043 shares during the last quarter. 77.98% of the stock is currently owned by 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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