ARK Investment Management LLC Sells 87,946 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

ARK Investment Management LLC cut its holdings in shares of Taboola.com Ltd. (NASDAQ:TBLA) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 506,644 shares of the company’s stock after selling 87,946 shares during the quarter. ARK Investment Management LLC owned approximately 0.17% of Taboola.com worth $1,849,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Meitav Investment House Ltd. grew its position in shares of Taboola.com by 9.4% during the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock worth $279,000 after purchasing an additional 6,500 shares in the last quarter. Empowered Funds LLC boosted its stake in Taboola.com by 410.5% in the 4th quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock worth $1,870,000 after purchasing an additional 412,042 shares during the period. R Squared Ltd purchased a new stake in Taboola.com during the 4th quarter valued at approximately $68,000. Harbor Capital Advisors Inc. raised its position in shares of Taboola.com by 22.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after buying an additional 6,094 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Taboola.com by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock worth $2,443,000 after buying an additional 257,009 shares in the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Taboola.com Stock Performance

Shares of NASDAQ:TBLA opened at $3.09 on Thursday. The firm has a fifty day simple moving average of $3.74 and a two-hundred day simple moving average of $3.55. Taboola.com Ltd. has a 52 week low of $2.87 and a 52 week high of $4.96. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $902.27 million, a P/E ratio of -30.90 and a beta of 1.27.

Taboola.com declared that its board 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 buy up to 22.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TBLA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research report on Friday, January 17th. JMP Securities reduced their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a report on Monday, January 27th. Finally, Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Taboola.com has an average rating of “Moderate Buy” and a consensus price target of $5.25.

About Taboola.com

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.