Sei Investments Co. lessened its position in Altaba Inc (NASDAQ:AABA) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,131 shares of the company’s stock after selling 27,331 shares during the quarter. Sei Investments Co.’s holdings in Altaba were worth $16,494,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AABA. SeaCrest Wealth Management LLC bought a new position in Altaba in the 4th quarter worth $103,000. Cullen Frost Bankers Inc. bought a new position in shares of Altaba during the 4th quarter worth about $200,000. Palladium Partners LLC bought a new position in shares of Altaba during the 4th quarter worth about $203,000. Sigma Planning Corp bought a new position in shares of Altaba during the 4th quarter worth about $209,000. Finally, NewFocus Financial Group LLC bought a new position in shares of Altaba during the 4th quarter worth about $210,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
Shares of Altaba Inc (AABA) opened at $74.59 on Wednesday. Altaba Inc has a 12-month low of $44.95 and a 12-month high of $80.56. The firm has a market cap of $64,202.02, a PE ratio of 294.04 and a beta of 2.01.
AABA has been the topic of several research reports. BidaskClub upgraded shares of Altaba from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Vetr upgraded shares of Altaba from a “sell” rating to a “hold” rating and set a $73.32 price objective on the stock in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Altaba has a consensus rating of “Buy” and a consensus target price of $61.46.
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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