Apollo Management Holdings Gp, Sells 12,000,000 Shares of Taboola.com (NASDAQ:TBLA) Stock

Taboola.com Ltd. (NASDAQ:TBLA) major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.40, for a total transaction of $52,800,000.00. Following the transaction, the insider directly owned 18,039,644 shares of the company’s stock, valued at approximately $79,374,433.60. This represents a 39.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Taboola.com Stock Down 1.8%

Shares of NASDAQ:TBLA opened at $4.86 on Wednesday. The firm has a fifty day moving average price of $4.03 and a two-hundred day moving average price of $3.91. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 12.79 and a beta of 1.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.13 and a quick ratio of 1.13. Taboola.com Ltd. has a one year low of $2.84 and a one year high of $5.26.

Taboola.com (NASDAQ:TBLA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.21. Taboola.com had a return on equity of 10.72% and a net margin of 5.64%.The company had revenue of $466.40 million for the quarter, compared to the consensus estimate of $453.30 million. During the same quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Taboola.com Ltd. will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Taboola.com

A number of institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. bought a new position in shares of Taboola.com during the 1st quarter valued at $59,000. AQR Capital Management LLC lifted its stake in Taboola.com by 60.6% in the first quarter. AQR Capital Management LLC now owns 998,731 shares of the company’s stock worth $2,946,000 after purchasing an additional 376,684 shares during the last quarter. Empowered Funds LLC boosted its position in Taboola.com by 41.1% during the first quarter. Empowered Funds LLC now owns 722,984 shares of the company’s stock valued at $2,133,000 after buying an additional 210,562 shares during the period. Creative Planning purchased a new stake in Taboola.com during the second quarter valued at about $154,000. Finally, American Century Companies Inc. grew its stake in shares of Taboola.com by 22.3% during the second quarter. American Century Companies Inc. now owns 420,732 shares of the company’s stock valued at $1,540,000 after buying an additional 76,640 shares during the last quarter. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Analyst Upgrades and Downgrades

TBLA has been the topic of several research analyst reports. Rosenblatt Securities upped their price objective on shares of Taboola.com from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Taboola.com in a report on Tuesday, April 21st. Wall Street Zen raised shares of Taboola.com from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Needham & Company LLC upped their target price on shares of Taboola.com from $4.50 to $5.50 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, TD Cowen increased their target price on Taboola.com from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.90.

Taboola.com Company Profile

Taboola.com (NASDAQ: TBLA) operates a leading content discovery platform that connects advertisers with premium publishers through native advertising and personalized recommendations. The company’s technology analyzes user behavior and contextual information to deliver promoted content, video, and product recommendations to audiences across a network of thousands of websites and mobile apps. By leveraging machine learning and big data, Taboola helps publishers generate incremental revenue while enabling advertisers to reach engaged users at scale.

Taboola’s suite of products includes feed placements, video recommendations, and sponsored content units designed to blend seamlessly with editorial pages.