Gabelli Funds LLC cut its stake in shares of Altaba (NASDAQ:AABA) by 0.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 961,256 shares of the company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in Altaba were worth $71,171,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Hudson Bay Capital Management LP boosted its stake in shares of Altaba by 89.7% during the 4th 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. FNY Managed Accounts LLC acquired a new position in Altaba in the 4th quarter valued at approximately $8,224,000. Stansberry Asset Management LLC acquired a new position in Altaba in the 4th quarter valued at approximately $13,654,000. Westpac Banking Corp raised its holdings in Altaba by 41.8% in the 4th quarter. Westpac Banking Corp now owns 28,640 shares of the company’s stock valued at $2,001,000 after acquiring an additional 8,440 shares in the last quarter. Finally, Palladium Partners LLC acquired a new position in Altaba in the 4th quarter valued at approximately $203,000. 71.41% of the stock is currently owned by institutional investors.
In other news, CFO Alexi Wellman sold 1,940 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $75.04, for a total value of $145,577.60. Following the sale, the chief financial officer now owns 17,905 shares of the company’s stock, valued at $1,343,591.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 24.00% of the company’s stock.
Several research firms have commented on AABA. BidaskClub cut Altaba from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Vetr lowered Altaba from a “hold” rating to a “sell” rating and set a $73.32 price target on the stock. in a research report on Tuesday, January 23rd. MKM Partners raised their price target on Altaba to $124.00 in a research report on Friday. ValuEngine upgraded Altaba from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Credit Suisse Group raised their price target on Altaba from $81.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $85.06.
Shares of Altaba opened at $77.02 on Tuesday, Marketbeat Ratings reports. Altaba has a 12 month low of $49.90 and a 12 month high of $80.56. The firm has a market cap of $66.32 billion, a P/E ratio of 303.72 and a beta of 1.96.
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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