Analysts Set Altaba (AABA) PT at $77.05

Altaba (NASDAQ:AABA) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $79.72.

A number of brokerages have issued reports on AABA. BidaskClub raised shares of Altaba from a “hold” rating to a “buy” rating in a report on Saturday. Credit Suisse Group raised their price target on shares of Altaba from $81.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Oppenheimer raised their price target on shares of Altaba from $98.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. JPMorgan Chase raised their price target on shares of Altaba to $90.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, UBS reissued a “buy” rating and issued a $98.00 price target (up previously from $92.00) on shares of Altaba in a report on Thursday, February 22nd.

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In other news, CFO Alexi Wellman sold 1,262 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $76.90, for a total value of $97,047.80. Following the completion of the sale, the chief financial officer now directly owns 16,643 shares of the company’s stock, valued at approximately $1,279,846.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 24.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Element Capital Management LLC purchased a new stake in shares of Altaba in the 4th quarter worth about $1,540,066,000. Millennium Management LLC lifted its position in shares of Altaba by 15.0% in the 4th quarter. Millennium Management LLC now owns 20,439,085 shares of the company’s stock worth $1,427,670,000 after purchasing an additional 2,671,283 shares during the period. HBK Investments L P lifted its position in Altaba by 4.9% during the 4th quarter. HBK Investments L P now owns 15,916,930 shares of the company’s stock valued at $1,111,798,000 after acquiring an additional 750,000 shares during the period. Aristeia Capital LLC lifted its position in Altaba by 8.1% during the 4th quarter. Aristeia Capital LLC now owns 13,148,290 shares of the company’s stock valued at $918,408,000 after acquiring an additional 980,860 shares during the period. Finally, Hudson Bay Capital Management LP lifted its position in Altaba by 89.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 7,167,499 shares of the company’s stock valued at $500,650,000 after acquiring an additional 3,390,092 shares during the period. 73.42% of the stock is owned by hedge funds and other institutional investors.

Altaba stock traded down $1.13 during trading hours on Wednesday, reaching $69.93. The stock had a trading volume of 19,179,092 shares, compared to its average volume of 7,645,753. The firm has a market cap of $62,062.24, a PE ratio of 284.24 and a beta of 1.95. Altaba has a 52 week low of $47.74 and a 52 week high of $80.56.

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About Altaba

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.

Analyst Recommendations for Altaba (NASDAQ:AABA)

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