Altaba (NASDAQ:AABA)‘s stock had its “buy” rating reaffirmed by analysts at UBS Group in a research report issued on Thursday. They presently have a $98.00 price objective on the stock, up from their prior price objective of $92.00. UBS Group’s price objective would suggest a potential upside of 26.03% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the company. BidaskClub raised Altaba from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Vetr raised Altaba from a “sell” rating to a “hold” rating and set a $73.32 price target for the company in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $68.05.
Altaba (NASDAQ:AABA) opened at $77.76 on Thursday. Altaba has a twelve month low of $44.95 and a twelve month high of $80.56. The stock has a market capitalization of $69,930.00, a PE ratio of 41.58 and a beta of 2.01.
In related news, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of Altaba stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $74.20, for a total value of $90,078,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tor Braham sold 10,000 shares of Altaba stock in a transaction dated Wednesday, November 29th. The stock was 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 owns 9,434 shares of the company’s stock, valued at $649,342.22. The disclosure for this sale can be found here. 24.00% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. increased its position in Altaba by 5.1% in the fourth quarter. First Republic Investment Management Inc. now owns 16,825 shares of the company’s stock worth $1,175,000 after purchasing an additional 815 shares during the period. OTA Financial Group L.P. increased its position in Altaba by 3.6% in the fourth quarter. OTA Financial Group L.P. now owns 29,049 shares of the company’s stock worth $2,029,000 after purchasing an additional 1,006 shares during the period. Steward Partners Investment Advisory LLC increased its position in 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 purchasing an additional 1,106 shares during the period. Commerce Bank increased its position in Altaba by 22.8% in the fourth quarter. Commerce Bank now owns 6,190 shares of the company’s stock worth $433,000 after purchasing an additional 1,150 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new stake in Altaba in the fourth quarter worth about $103,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
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Altaba Company Profile
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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