Traders purchased shares of Altaba (NASDAQ:AABA) on weakness during trading hours on Monday. $910.07 million flowed into the stock on the tick-up and $48.87 million flowed out of the stock on the tick-down, for a money net flow of $861.20 million into the stock. Of all companies tracked, Altaba had the highest net in-flow for the day. Altaba traded down ($1.17) for the day and closed at $69.89
A number of research firms have commented on AABA. BidaskClub lowered Altaba from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Vetr upgraded Altaba from a “hold” rating to a “buy” rating and set a $81.50 price target on the stock in a research report on Tuesday, February 20th. JPMorgan Chase upped their price target on Altaba to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer upped their target price on Altaba from $98.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, Credit Suisse Group upped their target price on Altaba from $81.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Altaba currently has a consensus rating of “Buy” and a consensus target price of $79.72.
The stock has a market cap of $61,040.39, a P/E ratio of 279.56 and a beta of 1.95.
In related news, CFO Alexi Wellman sold 1,940 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $75.04, for a total transaction of $145,577.60. Following the sale, the chief financial officer now owns 17,905 shares in the company, valued at approximately $1,343,591.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 24.00% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in AABA. Element Capital Management LLC bought a new position in Altaba in the fourth quarter worth approximately $1,540,066,000. Hudson Bay Capital Management LP boosted its holdings in Altaba by 89.7% in the fourth quarter. Hudson Bay Capital Management LP now owns 7,167,499 shares of the company’s stock worth $500,650,000 after acquiring an additional 3,390,092 shares in the last quarter. Millennium Management LLC boosted its holdings in Altaba by 15.0% in the fourth quarter. Millennium Management LLC now owns 20,439,085 shares of the company’s stock worth $1,427,670,000 after acquiring an additional 2,671,283 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in Altaba in the fourth quarter worth approximately $122,391,000. Finally, Lazard Asset Management LLC boosted its holdings in Altaba by 96.2% in the fourth quarter. Lazard Asset Management LLC now owns 3,013,517 shares of the company’s stock worth $210,494,000 after acquiring an additional 1,477,332 shares in the last quarter. Institutional investors own 73.42% of the company’s stock.
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Altaba Company Profile
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.
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