River Global Investors LLP Decreases Stake in Taboola.com Ltd. (NASDAQ:TBLA)

River Global Investors LLP lowered its holdings in Taboola.com Ltd. (NASDAQ:TBLA) by 40.8% in the 4th quarter, Holdings Channel reports. The firm owned 118,687 shares of the company’s stock after selling 81,922 shares during the period. River Global Investors LLP’s holdings in Taboola.com were worth $434,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TBLA. ARK Investment Management LLC raised its stake in shares of Taboola.com by 9.2% in the third quarter. ARK Investment Management LLC now owns 594,590 shares of the company’s stock worth $1,998,000 after purchasing an additional 50,256 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Taboola.com by 11.6% in the third quarter. GSA Capital Partners LLP now owns 814,598 shares of the company’s stock worth $2,737,000 after purchasing an additional 84,382 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Taboola.com in the third quarter worth $63,000. Intellectus Partners LLC raised its stake in shares of Taboola.com by 4.5% in the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock worth $1,235,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Taboola.com in the third quarter worth $337,000. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Taboola.com Stock Performance

NASDAQ:TBLA opened at $2.84 on Friday. The stock has a 50-day simple moving average of $3.60 and a two-hundred day simple moving average of $3.53. Taboola.com Ltd. has a 52-week low of $2.69 and a 52-week high of $4.66. The firm has a market capitalization of $836.85 million, a PE ratio of -28.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31.

Taboola.com announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TBLA has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a research note on Tuesday, February 25th. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. JMP Securities cut their price objective on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Finally, B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $5.00 to $4.00 in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

Insider Activity

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

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.