Taboola.com Ltd. (NASDAQ:TBLA) Major Shareholder Sells $4,269,438.72 in Stock

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) major shareholder Apollo Management Holdings Gp, sold 988,296 shares of the firm's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.32, for a total value of $4,269,438.72. Following the sale, the insider now owns 44,210,406 shares in the company, valued at approximately $190,988,953.92. The trade was a 2.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Taboola.com Stock Down 0.4 %

NASDAQ TBLA traded down $0.01 during mid-day trading on Friday, reaching $2.84. 2,661,720 shares of the company's stock traded hands, compared to its average volume of 1,683,569. Taboola.com Ltd. has a 1-year low of $2.69 and a 1-year high of $4.66. The company has a fifty day simple moving average of $3.60 and a 200-day simple moving average of $3.53. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a market cap of $836.85 million, a price-to-earnings ratio of -28.40 and a beta of 1.33.

Taboola.com declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 22.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

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Analyst Ratings Changes

Several equities research analysts recently commented on TBLA shares. Citizens Jmp downgraded Taboola.com from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. JMP Securities dropped 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. Oppenheimer reiterated a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. B. Riley lowered Taboola.com from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $5.00 to $4.00 in a research note on Thursday, February 27th. Finally, Needham & Company LLC lowered their price objective on Taboola.com from $5.00 to $4.00 and set a "buy" rating for the company in a research note 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $4.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TBLA. Bridgeway Capital Management LLC grew its position in shares of Taboola.com by 1,257.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company's stock worth $4,973,000 after acquiring an additional 1,262,042 shares in the last quarter. Wellington Management Group LLP grew its position 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 worth $70,102,000 after acquiring an additional 1,109,602 shares in the last quarter. Millennium Management LLC grew its position 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 worth $8,094,000 after acquiring an additional 665,944 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Taboola.com in the 4th quarter worth approximately $1,724,000. Finally, Renaissance Technologies LLC grew its position 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 worth $5,644,000 after acquiring an additional 443,700 shares in the last quarter. Institutional investors and hedge funds own 42.89% 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.