Altaba (NASDAQ:AABA) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Several other equities analysts have also recently issued reports on AABA. Vetr upgraded Altaba from a “sell” rating to a “hold” rating and set a $73.32 price objective on the stock in a research note on Tuesday, January 16th. UBS restated a “buy” rating and set a $98.00 price objective (up from $92.00) on shares of Altaba in a research note on Thursday, February 22nd. JPMorgan Chase raised their price objective on Altaba to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer raised their price objective on Altaba from $98.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, Credit Suisse Group raised their price objective on Altaba from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $71.96.
Shares of AABA opened at $69.38 on Wednesday. Altaba has a 12-month low of $45.96 and a 12-month high of $80.56. The firm has a market cap of $60,717.23, a P/E ratio of 278.08 and a beta of 1.95.
Institutional investors and hedge funds have recently modified their holdings of the company. Atlantic Trust Group LLC increased its holdings in shares of Altaba by 97.8% during the third quarter. Atlantic Trust Group LLC now owns 41,370 shares of the company’s stock valued at $2,740,000 after purchasing an additional 20,458 shares during the period. Addison Capital Co acquired a new position in shares of Altaba during the fourth quarter valued at $526,000. Hudson Bay Capital Management LP increased its holdings in shares of Altaba by 89.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 7,167,499 shares of the company’s stock valued at $500,650,000 after purchasing an additional 3,390,092 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Altaba during the third quarter valued at $505,000. Finally, FNY Managed Accounts LLC acquired a new position in shares of Altaba during the fourth quarter valued at $8,224,000. 73.84% of the stock is currently owned by institutional investors.
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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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