Traders Sell Altaba (AABA) on Strength (AABA)

Traders sold shares of Altaba Inc (NASDAQ:AABA) on strength during trading hours on Friday. $90.66 million flowed into the stock on the tick-up and $188.10 million flowed out of the stock on the tick-down, for a money net flow of $97.44 million out of the stock. Of all stocks tracked, Altaba had the 0th highest net out-flow for the day. Altaba traded up $0.48 for the day and closed at $70.97

Several analysts have recently weighed in on the company. BidaskClub raised Altaba from a “hold” rating to a “buy” rating in a report on Saturday, April 21st. ValuEngine raised Altaba from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. MKM Partners upped their target price on Altaba to $124.00 in a research report on Friday, May 18th. JPMorgan Chase & Co. upped their target price on Altaba from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, June 1st. Finally, Credit Suisse Group upped their target price on Altaba from $76.00 to $88.00 in a research report on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $96.75.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Glassman Wealth Services purchased a new stake in Altaba in the 1st quarter valued at about $127,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of Altaba during the second quarter worth $143,000. IMA Wealth Inc. bought a new stake in shares of Altaba during the second quarter worth $157,000. Comerica Bank bought a new stake in shares of Altaba during the second quarter worth $204,000. Finally, Brighton Jones LLC bought a new stake in shares of Altaba during the first quarter worth $208,000. Institutional investors own 72.58% of the company’s stock.

Altaba Company Profile

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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