Insider Selling: Altaba Inc (AABA) Major Shareholder Sells 1,214,000 Shares of Stock

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.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AABA. Disciplined Growth Investors Inc. MN purchased a new position in Altaba in the second quarter valued at about $128,338,000. Canada Pension Plan Investment Board boosted its stake in Altaba by 315.5% in the third quarter. Canada Pension Plan Investment Board now owns 5,926,117 shares of the company’s stock valued at $392,546,000 after acquiring an additional 4,500,000 shares during the last quarter. Opera Trading Capital boosted its stake in Altaba by 8,700.7% in the third quarter. Opera Trading Capital now owns 79,206 shares of the company’s stock valued at $5,247,000 after acquiring an additional 78,306 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Altaba by 409.6% in the third quarter. Russell Investments Group Ltd. now owns 86,452 shares of the company’s stock valued at $5,727,000 after acquiring an additional 69,488 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Altaba by 6,364.1% in the third quarter. SG Americas Securities LLC now owns 261,927 shares of the company’s stock valued at $17,350,000 after acquiring an additional 257,875 shares during the last quarter. Hedge funds and other institutional investors own 80.23% 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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