Phoenix Financial Ltd. Purchases 98,800 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

Phoenix Financial Ltd. boosted its holdings in Taboola.com Ltd. (NASDAQ:TBLA) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,397,680 shares of the company’s stock after buying an additional 98,800 shares during the quarter. Phoenix Financial Ltd. owned 2.53% of Taboola.com worth $27,002,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. R Squared Ltd purchased a new stake in shares of Taboola.com in the 4th quarter worth $68,000. Virtu Financial LLC acquired a new stake in shares of Taboola.com during the fourth quarter worth about $81,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Taboola.com during the 4th quarter worth $109,000. Harbor Capital Advisors Inc. increased its position in Taboola.com by 22.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after buying an additional 6,094 shares during the period. Finally, Barclays PLC increased its stake in Taboola.com by 1,218.5% in the 3rd quarter. Barclays PLC now owns 36,431 shares of the company’s stock valued at $122,000 after buying an additional 33,668 shares during the period. Institutional investors own 42.89% of the company’s stock.

Wall Street Analysts Forecast Growth

TBLA has been the subject of several recent research reports. JMP Securities dropped their target price on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 target price on shares of Taboola.com in a report on Thursday, March 27th. Citizens Jmp downgraded Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $5.00 to $4.00 in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Taboola.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.38.

Insider Activity

In other Taboola.com news, CEO Adam Singolda bought 60,229 shares of Taboola.com stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the acquisition, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Zvi Limon acquired 168,506 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $2.93 per share, with a total value of $493,722.58. Following the acquisition, the director now directly owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. This trade represents a 5.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 22.40% of the company’s stock.

Taboola.com Price Performance

Shares of NASDAQ:TBLA opened at $2.77 on Thursday. The business has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $3.45. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com Ltd. has a 1 year low of $2.50 and a 1 year high of $4.60. The firm has a market cap of $816.22 million, a price-to-earnings ratio of -27.70 and a beta of 1.21.

Taboola.com announced that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 22.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Taboola.com Company Profile

Taboola.com Ltd., together with its subsidiaries, operates an artificial intelligence-based algorithmic engine platform in Israel, the United States, the United Kingdom, Germany, and internationally. It offers Taboola, a platform that partners with websites, devices, and mobile apps to recommend editorial content and advertisements on the open web to users.