Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) shares saw an uptick in trading volume on Tuesday . 1,722,346 shares were traded during trading, an increase of 55% from the previous session's volume of 1,109,821 shares.The stock last traded at $3.00 and had previously closed at $2.96.
Analyst Ratings Changes
Several research firms have recently weighed in on TBLA. JMP Securities reduced 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. Needham & Company LLC reduced their price objective on Taboola.com from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Oppenheimer reissued a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. B. Riley cut Taboola.com from a "buy" rating to a "neutral" rating and reduced their price target for the company from $5.00 to $4.00 in a research report on Thursday, February 27th. Finally, Citizens Jmp cut Taboola.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.50.
Read Our Latest Report on Taboola.com
Taboola.com Stock Down 2.0 %
The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $3.45 and a 200-day simple moving average of $3.49. The stock has a market cap of $860.42 million, a P/E ratio of -29.20 and a beta of 1.33.
Taboola.com announced that its board has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.
Insider Transactions at Taboola.com
In other news, CEO Adam Singolda bought 60,229 shares of the stock in a transaction dated Friday, February 28th. The shares were bought 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. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zvi Limon bought 168,506 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $2.93 per share, for a total transaction of $493,722.58. Following the purchase, the director now owns 2,987,383 shares of the company's stock, valued at $8,753,032.19. This trade represents a 5.98 % increase in their position. The disclosure for this purchase can be found here. 22.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Taboola.com
A number of hedge funds have recently added to or reduced their stakes in TBLA. Empowered Funds LLC bought a new position in Taboola.com during the 3rd quarter worth $337,000. Algert Global LLC increased its stake in Taboola.com by 10.3% during the 3rd quarter. Algert Global LLC now owns 327,151 shares of the company's stock worth $1,099,000 after acquiring an additional 30,597 shares during the period. Quantbot Technologies LP bought a new position in Taboola.com during the 3rd quarter worth $116,000. Verition Fund Management LLC bought a new position in Taboola.com during the 3rd quarter worth $126,000. Finally, Point72 Asset Management L.P. increased its stake in Taboola.com by 529.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 86,600 shares of the company's stock worth $291,000 after acquiring an additional 72,849 shares during the period. Institutional investors own 42.89% of the company's stock.
About Taboola.com
(
Get Free Report)
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.
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