Disciplined Growth Investors Inc. MN decreased its holdings in shares of Altaba Inc. (NASDAQ:AABA) by 33.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,565,633 shares of the company’s stock after selling 790,059 shares during the period. Altaba accounts for 2.2% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 13th largest position. Disciplined Growth Investors Inc. MN owned approximately 0.18% of Altaba worth $103,708,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Trust Group LLC bought a new stake in shares of Altaba during the second quarter valued at approximately $1,139,000. SG Americas Securities LLC increased its position in shares of Altaba by 6,364.1% during 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 in the last quarter. Opera Trading Capital grew its position in Altaba by 8,700.7% in the 3rd quarter. Opera Trading Capital now owns 79,206 shares of the company’s stock worth $5,247,000 after purchasing an additional 78,306 shares during the period. Russell Investments Group Ltd. grew its position in Altaba by 409.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 86,452 shares of the company’s stock worth $5,727,000 after purchasing an additional 69,488 shares during the period. Finally, Rhumbline Advisers bought a new stake in Altaba in the 2nd quarter worth approximately $3,364,000. 79.73% of the stock is owned by institutional investors and hedge funds.
Shares of Altaba Inc. (NASDAQ AABA) traded up $3.28 during trading on Tuesday, reaching $73.13. 11,436,763 shares of the company’s stock were exchanged, compared to its average volume of 9,024,850. Altaba Inc. has a twelve month low of $38.64 and a twelve month high of $73.35. The firm has a market cap of $63,870.00, a price-to-earnings ratio of 39.11 and a beta of 1.87.
AABA has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $77.00 target price on shares of Altaba in a research report on Friday, September 22nd. BidaskClub upgraded shares of Altaba from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $54.45.
In other news, Director Tor Braham sold 10,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $68.83, for a total value of $688,300.00. Following the sale, the director now owns 9,434 shares in the company, valued at $649,342.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alexi Wellman sold 860 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $72.79, for a total transaction of $62,599.40. Following the sale, the chief financial officer now directly owns 19,845 shares in the company, valued at $1,444,517.55. The disclosure for this sale can be found here. 24.00% of the stock is owned by corporate insiders.
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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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