JPMorgan Chase & Co. Cuts Stake in Taboola.com Ltd. (NASDAQ:TBLA)

JPMorgan Chase & Co. decreased its holdings in shares of Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,986 shares of the company's stock after selling 135,195 shares during the period. JPMorgan Chase & Co. owned 0.20% of Taboola.com worth $2,161,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Taboola.com during the 4th quarter worth approximately $68,000. Virtu Financial LLC bought a new stake in shares of Taboola.com in the 4th quarter valued at $81,000. KLP Kapitalforvaltning AS bought a new stake in shares of Taboola.com in the 4th quarter valued at $109,000. Harbor Capital Advisors Inc. increased its stake in shares of Taboola.com by 22.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company's stock valued at $121,000 after acquiring an additional 6,094 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Taboola.com by 1,218.5% in the 3rd quarter. Barclays PLC now owns 36,431 shares of the company's stock valued at $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 Buying and Selling at Taboola.com

In other Taboola.com news, CEO Adam Singolda purchased 60,229 shares of the firm's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the purchase, the chief executive officer now owns 14,462,943 shares of the company's stock, valued at $39,339,204.96. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Zvi Limon bought 168,506 shares of Taboola.com stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $2.93 per share, with a total value of $493,722.58. Following the purchase, the director now owns 2,987,383 shares in the company, 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. 22.40% of the stock is currently owned by company insiders.

Taboola.com Stock Down 0.7 %

TBLA stock traded down $0.02 during midday trading on Tuesday, reaching $2.99. 1,571,914 shares of the company's stock traded hands, compared to its average volume of 1,232,098. The company has a market cap of $881.51 million, a price-to-earnings ratio of -29.90 and a beta of 1.21. The firm's fifty day moving average price is $2.92 and its 200-day moving average price is $3.41. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com Ltd. has a 52 week low of $2.50 and a 52 week high of $4.60.

Taboola.com announced that its board has initiated a stock buyback 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 generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer reiterated a "market perform" rating on shares of Taboola.com in a research note on Wednesday, February 26th. JMP Securities lowered their price objective on shares of Taboola.com from $6.00 to $5.00 and set a "market outperform" rating for the company in a research note on Monday, January 27th. B. Riley lowered shares of 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. Needham & Company LLC reiterated a "buy" rating and issued a $4.00 price objective on shares of Taboola.com in a research note on Thursday, March 27th. Finally, Citizens Jmp lowered shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Taboola.com currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.38.

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.