Taboola.com Ltd. (NASDAQ:TBLA) CEO Adam Singolda Acquires 60,229 Shares

Taboola.com Ltd. (NASDAQ:TBLA) CEO Adam Singolda acquired 60,229 shares of the company’s 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 $39,339,204.96. This represents a 0.42 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Taboola.com Stock Down 3.2 %

TBLA opened at $2.73 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $797.15 million, a price-to-earnings ratio of -27.30 and a beta of 1.27. The business has a 50-day moving average of $3.70 and a two-hundred day moving average of $3.54. Taboola.com Ltd. has a 12 month low of $2.69 and a 12 month high of $4.76.

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 repurchase up to 22.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citizens Jmp cut Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. JMP Securities dropped their price objective on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 27th. B. Riley cut Taboola.com from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research report on Thursday. Needham & Company LLC lowered their price target on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday. Finally, Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.50.

Hedge Funds Weigh In On Taboola.com

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Taboola.com by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock valued at $70,102,000 after purchasing an additional 1,109,602 shares in the last quarter. Phoenix Financial Ltd. lifted its stake 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 purchasing an additional 98,800 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Taboola.com by 42.9% in the 4th quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after purchasing an additional 665,944 shares in the last quarter. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 443,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Taboola.com by 4.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock valued at $5,404,000 after purchasing an additional 63,324 shares in the last quarter. 42.89% of the stock is owned by institutional investors and hedge funds.

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.