Taboola.com (NASDAQ:TBLA) Sees Large Volume Increase - Should You Buy?

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 1,666,339 shares were traded during trading, an increase of 70% from the previous session's volume of 977,954 shares.The stock last traded at $2.95 and had previously closed at $3.09.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Oppenheimer reiterated a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. B. Riley downgraded shares of Taboola.com from a "buy" rating to a "neutral" rating and cut their price target for the stock from $5.00 to $4.00 in a research note on Thursday. 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. Citizens Jmp downgraded Taboola.com from an "outperform" rating to a "market perform" rating in a report on Thursday. Finally, Needham & Company LLC reduced their target price on Taboola.com from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Taboola.com has a consensus rating of "Moderate Buy" and an average price target of $4.50.

Taboola.com Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The business's 50-day simple moving average is $3.68 and its two-hundred day simple moving average is $3.54. The stock has a market capitalization of $828.01 million, a price-to-earnings ratio of -28.10 and a beta of 1.27.

Remove Ads

Taboola.com declared that its board has authorized a stock buyback plan on Wednesday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 22.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Adam Singolda acquired 60,229 shares of Taboola.com stock in a transaction on 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 directly owns 14,462,943 shares in the company, valued at $39,339,204.96. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Zvi Limon bought 168,506 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $2.93 per share, with a total value of $493,722.58. Following the transaction, the director now directly owns 2,987,383 shares of the company's stock, valued at approximately $8,753,032.19. This trade 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 owned by corporate insiders.

Institutional Trading of Taboola.com

Large investors have recently bought and sold shares of the company. Aigen Investment Management LP purchased a new position in shares of Taboola.com in the third quarter valued at $63,000. Wolverine Trading LLC boosted its position in Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company's stock valued at $63,000 after buying an additional 8,463 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Taboola.com during the fourth quarter valued at about $68,000. Virtu Financial LLC acquired a new stake in shares of Taboola.com during the fourth quarter valued at about $81,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Taboola.com during the fourth quarter worth about $103,000. Institutional investors and hedge funds own 42.89% of the company's stock.

About Taboola.com

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.