Taboola.com Ltd. (NASDAQ:TBLA) Shares Sold by Altshuler Shaham Ltd

Altshuler Shaham Ltd cut its position in Taboola.com Ltd. (NASDAQ:TBLA) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,033,853 shares of the company’s stock after selling 65,520 shares during the period. Taboola.com makes up 0.1% of Altshuler Shaham Ltd’s holdings, making the stock its 29th largest position. Altshuler Shaham Ltd owned approximately 0.35% of Taboola.com worth $3,774,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TBLA. Wellington Management Group LLP boosted its position in Taboola.com by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock valued at $70,102,000 after buying an additional 1,109,602 shares during the last quarter. Phoenix Financial Ltd. boosted its holdings in shares of Taboola.com by 1.4% in the 4th quarter. Phoenix Financial Ltd. now owns 7,397,680 shares of the company’s stock valued at $27,002,000 after acquiring an additional 98,800 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Taboola.com by 40.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock valued at $5,644,000 after acquiring an additional 443,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Taboola.com by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock worth $5,404,000 after acquiring an additional 63,324 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Taboola.com by 25.5% during the fourth quarter. Marshall Wace LLP now owns 1,223,998 shares of the company’s stock worth $4,468,000 after purchasing an additional 248,412 shares during the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Taboola.com Stock Performance

Shares of TBLA stock opened at $2.75 on Thursday. The company has a market capitalization of $810.33 million, a P/E ratio of -27.50 and a beta of 1.21. Taboola.com Ltd. has a 12-month low of $2.50 and a 12-month high of $4.60. The business’s 50 day moving average is $3.10 and its two-hundred day moving average is $3.43. 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 declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 22.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on TBLA. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price target on shares of Taboola.com in a report on Thursday, March 27th. B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $5.00 to $4.00 in a report on Thursday, February 27th. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Citizens Jmp cut shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, JMP Securities decreased 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 research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Taboola.com presently has an average rating of “Moderate Buy” and a consensus target price of $4.38.

Insider Activity

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

Taboola.com 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.