Traders Sell Altaba (AABA) on Strength (AABA)

Investors sold shares of Altaba Inc (NASDAQ:AABA) on strength during trading hours on Wednesday. $40.02 million flowed into the stock on the tick-up and $309.34 million flowed out of the stock on the tick-down, for a money net flow of $269.32 million out of the stock. Of all companies tracked, Altaba had the 0th highest net out-flow for the day. Altaba traded up $0.52 for the day and closed at $75.11

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Altaba to $90.00 and gave the company an “overweight” rating in a report on Friday. UBS Group restated a “buy” rating and issued a $98.00 price objective (up from $92.00) on shares of Altaba in a report on Thursday. BidaskClub upgraded Altaba from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Finally, Vetr downgraded Altaba from a “hold” rating to a “sell” rating and set a $73.32 price objective for the company. in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $66.71.

The company has a market cap of $65,599.42, a P/E ratio of -3,846.89 and a beta of 2.01.

In other Altaba 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tor Braham sold 10,000 shares of Altaba stock in a transaction dated 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 transaction, the director now owns 9,434 shares in the company, valued at approximately $649,342.22. The disclosure for this sale can be found here. 24.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Republic Investment Management Inc. grew its stake in Altaba by 5.1% in the fourth 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. OTA Financial Group L.P. grew its stake in Altaba by 3.6% in the fourth quarter. OTA Financial Group L.P. now owns 29,049 shares of the company’s stock valued at $2,029,000 after purchasing an additional 1,006 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Altaba by 14.5% in the fourth 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 stake in Altaba by 22.8% in the fourth 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. Finally, SeaCrest Wealth Management LLC purchased a new position in Altaba in the fourth quarter valued at about $103,000. Institutional investors own 77.98% of the company’s stock.

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About Altaba

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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