Taboola.com (NASDAQ:TBLA) Hits New 12-Month Low - Time to Sell?

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $2.63 and last traded at $2.70, with a volume of 924030 shares traded. The stock had previously closed at $2.85.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. B. Riley lowered 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 report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $4.00 price objective on shares of Taboola.com in a research note on Thursday, March 27th. Citizens Jmp cut shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. Benchmark reissued a "buy" rating and issued a $4.50 target price on shares of Taboola.com in a research note on Thursday, March 27th. Finally, Oppenheimer restated a "market perform" rating on shares of Taboola.com in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $4.38.

Taboola.com Trading Up 9.1 %

The stock has a market cap of $816.22 million, a price-to-earnings ratio of -27.70 and a beta of 1.21. 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's 50 day moving average is $3.26 and its two-hundred day moving average is $3.46.

Taboola.com announced that its board has approved 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 repurchase up to 22.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Taboola.com

In other news, Director Zvi Limon bought 168,506 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the acquisition, the director now directly owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. This trade represents a 5.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Singolda purchased 60,229 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the transaction, the chief executive officer now 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 disclosure for this purchase can be found here. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Taboola.com

Several hedge funds have recently made changes to their positions in TBLA. Harbor Capital Advisors Inc. increased its holdings in shares of Taboola.com by 22.6% in 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 in the last quarter. Meitav Investment House Ltd. grew its stake in Taboola.com by 9.4% during the 4th quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company's stock valued at $279,000 after acquiring an additional 6,500 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Taboola.com by 4.6% in the third quarter. Tidal Investments LLC now owns 183,856 shares of the company's stock worth $618,000 after purchasing an additional 8,127 shares in the last quarter. Wolverine Trading LLC boosted its holdings in shares of Taboola.com by 98.4% during the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company's stock worth $63,000 after purchasing an additional 8,463 shares during the period. Finally, State Street Corp grew its position in Taboola.com by 5.5% during the third quarter. State Street Corp now owns 305,350 shares of the company's stock valued at $1,026,000 after purchasing an additional 16,055 shares in the last quarter. 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.