Renaissance Technologies LLC Has $5.64 Million Stock Position in Taboola.com Ltd. (NASDAQ:TBLA)

Renaissance Technologies LLC lifted its position in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 40.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,546,300 shares of the company's stock after acquiring an additional 443,700 shares during the period. Renaissance Technologies LLC owned about 0.53% of Taboola.com worth $5,644,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in Taboola.com during the 4th quarter worth approximately $68,000. Virtu Financial LLC purchased a new position in shares of Taboola.com during the fourth quarter valued at $81,000. KLP Kapitalforvaltning AS purchased a new position in shares of Taboola.com during the fourth quarter valued at $109,000. Harbor Capital Advisors Inc. raised its position in 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 period. Finally, Barclays PLC lifted its stake in Taboola.com by 1,218.5% in the 3rd quarter. Barclays PLC now owns 36,431 shares of the company's stock worth $122,000 after acquiring an additional 33,668 shares in the last quarter. Institutional investors and hedge funds own 42.89% of the company's stock.

Insider Activity at Taboola.com

In related 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 price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the purchase, the chief executive officer now owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. The trade was a 0.42 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Zvi Limon bought 168,506 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the purchase, the director now owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. The trade was a 5.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TBLA. JMP Securities reduced their price target on shares of 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. Benchmark reissued a "buy" rating and set a $4.50 target price on shares of Taboola.com in a research note on Thursday, March 27th. Citizens Jmp downgraded shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $4.00 price objective on shares of Taboola.com in a research report on Thursday, March 27th. Finally, B. Riley downgraded Taboola.com from a "buy" rating to a "neutral" rating and lowered their target price for the company from $5.00 to $4.00 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 stock. Based on data from MarketBeat.com, Taboola.com has an average rating of "Moderate Buy" and a consensus price target of $4.38.

Taboola.com Stock Up 1.5 %

NASDAQ TBLA traded up $0.05 during trading on Thursday, hitting $2.97. 444,233 shares of the company traded hands, compared to its average volume of 1,216,472. Taboola.com Ltd. has a 12 month low of $2.50 and a 12 month high of $4.60. The business has a fifty day simple moving average of $2.99 and a 200 day simple moving average of $3.42. The company has a market capitalization of $874.14 million, a P/E ratio of -29.65 and a beta of 1.21. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14.

Taboola.com announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire 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.

Taboola.com 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.