Altaba Inc (NASDAQ:AABA) major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $74.20, for a total transaction of $90,078,800.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Altaba Inc (AABA) traded up $0.13 during trading on Monday, reaching $74.36. 7,203,300 shares of the company traded hands, compared to its average volume of 7,421,554. Altaba Inc has a 1-year low of $41.84 and a 1-year high of $77.23. The stock has a market capitalization of $64,700.00, a PE ratio of 39.76 and a beta of 1.88.
Several research analysts recently weighed in on AABA shares. Vetr upgraded shares of Altaba from a “sell” rating to a “hold” rating and set a $73.32 price target on the stock in a report on Tuesday, January 16th. BidaskClub cut shares of Altaba from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $55.57.
COPYRIGHT VIOLATION NOTICE: This news story was published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/22/insider-selling-altaba-inc-aaba-major-shareholder-sells-1214000-shares-of-stock.html.
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.
Receive News & Ratings for Altaba Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altaba and related companies with MarketBeat.com's FREE daily email newsletter.