Altaba (NASDAQ:AABA) Cut to Sell at BidaskClub

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BidaskClub cut shares of Altaba (NASDAQ:AABA) from a hold rating to a sell rating in a research report report published on Tuesday, BidAskClub reports.

A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Investar from a hold rating to a buy rating and set a $27.00 price objective on the stock in a report on Tuesday, June 4th. JPMorgan Chase & Co. cut their price objective on Realogy from $14.00 to $12.00 and set an underweight rating on the stock in a report on Thursday, April 4th. Finally, ValuEngine lowered Valero Energy from a hold rating to a sell rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Altaba currently has an average rating of Hold and an average price target of $96.50.

Shares of AABA stock opened at $69.77 on Tuesday. The company has a 50-day moving average price of $66.10. Altaba has a fifty-two week low of $54.75 and a fifty-two week high of $79.18.

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its holdings in Altaba by 3.8% during the first quarter. Commonwealth Equity Services LLC now owns 45,521 shares of the company’s stock worth $3,374,000 after acquiring an additional 1,657 shares during the period. Actinver Wealth Management Inc. acquired a new stake in Altaba during the fourth quarter worth about $484,000. Norges Bank acquired a new stake in Altaba during the fourth quarter worth about $255,165,000. Samlyn Capital LLC acquired a new stake in Altaba during the fourth quarter worth about $78,636,000. Finally, Wells Fargo & Company MN grew its holdings in Altaba by 41.9% during the first quarter. Wells Fargo & Company MN now owns 2,175,387 shares of the company’s stock worth $161,240,000 after acquiring an additional 642,417 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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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