Wellington Management Group LLP Purchases 1,109,602 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

Wellington Management Group LLP boosted its position in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,205,915 shares of the company's stock after buying an additional 1,109,602 shares during the quarter. Wellington Management Group LLP owned approximately 6.58% of Taboola.com worth $70,102,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TBLA. JPMorgan Chase & Co. raised its holdings in Taboola.com by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company's stock worth $2,443,000 after buying an additional 257,009 shares during the period. Yelin Lapidot Holdings Management Ltd. bought a new position in Taboola.com in the fourth quarter valued at about $1,724,000. Empowered Funds LLC lifted its holdings in shares of Taboola.com by 410.5% during the 4th quarter. Empowered Funds LLC now owns 512,422 shares of the company's stock valued at $1,870,000 after purchasing an additional 412,042 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Taboola.com by 61.5% during the 4th quarter. Quantbot Technologies LP now owns 55,863 shares of the company's stock worth $204,000 after purchasing an additional 21,281 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Taboola.com by 22.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company's stock worth $121,000 after purchasing an additional 6,094 shares during the last quarter. Institutional investors own 42.89% of the company's stock.

Insiders Place Their Bets

In other news, Director Zvi Limon bought 168,506 shares of Taboola.com stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $2.93 per share, with a total value of $493,722.58. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Singolda bought 60,229 shares of Taboola.com stock in a transaction on Friday, February 28th. The shares were purchased at an average cost 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 of the company's stock, valued at $39,339,204.96. This trade represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 22.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TBLA shares. Citizens Jmp downgraded Taboola.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. JMP Securities decreased their price target 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. B. Riley lowered Taboola.com from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $5.00 to $4.00 in a research note on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and set a $4.50 price target on shares of Taboola.com in a research report 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Taboola.com has a consensus rating of "Moderate Buy" and an average target price of $4.38.

Taboola.com Stock Down 2.3 %

Shares of TBLA stock traded down $0.07 during trading hours on Thursday, reaching $2.71. 614,913 shares of the company's stock were exchanged, compared to its average volume of 1,185,477. The stock's 50 day moving average is $3.21 and its 200-day moving average is $3.45. The company has a market cap of $797.07 million, a price-to-earnings ratio of -27.19 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 Ltd. has a fifty-two week low of $2.50 and a fifty-two week high of $4.60.

Taboola.com announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 22.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Taboola.com Company 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.