Recent insider trends for Altaba Inc. (NASDAQ:AABA) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of AABA, the data has some interesting implications for where the stock might be headed.
Institutions own 81.46% of Altaba Inc. (AABA)’s shares. The total value of these holdings, in millions, is $54,432. Among active positions in the latest quarter, 221 holders increased their positions by a total of 104.86 million shares, 229 holders decreased the positions by a total of 101.69 million shares, and 106 holders held their positions. This works out to a net increase in ownership of 3.17 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 79 holders initiated new positions by a total of 15.75 million shares and 68 holders exited their positions by a total of 14.06 million shares. This nets out to an increase of 1.69 million shares and is a bullish sign for AABA.
In the last three months, insiders executed a total of 2 trades. 2 were sells. Insider ownership decreased by a total of 10860 shares, which suggests that AABA’s key executives are feeling less optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 2 sells, and ownership decreased by a net of 10860 shares.
Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. Altaba Inc. (NASDAQ:AABA)’s short interest is 23.47 million shares, or % of the float. This represents an increase of 37% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for AABA. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that AABA is a Strong buy, which implies that AABA is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bearish. Technical indicators (also) suggest that Altaba Inc. (NASDAQ:AABA) is undervalued.