Cubist Systematic Strategies LLC Buys 244,727 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

Cubist Systematic Strategies LLC increased its stake in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 211.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 360,483 shares of the company's stock after purchasing an additional 244,727 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.12% of Taboola.com worth $1,316,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its position 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 worth $121,000 after purchasing an additional 6,094 shares during the period. Meitav Investment House Ltd. increased its position in shares of Taboola.com by 9.4% in the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company's stock worth $279,000 after purchasing an additional 6,500 shares during the period. Voya Investment Management LLC increased its position in shares of Taboola.com by 18.8% in the fourth quarter. Voya Investment Management LLC now owns 103,054 shares of the company's stock worth $376,000 after purchasing an additional 16,333 shares during the period. R Squared Ltd bought a new position in shares of Taboola.com in the fourth quarter worth $68,000. Finally, XTX Topco Ltd increased its position in shares of Taboola.com by 31.2% in the fourth quarter. XTX Topco Ltd now owns 79,018 shares of the company's stock worth $288,000 after purchasing an additional 18,789 shares during the period. Institutional investors own 42.89% of the company's stock.

Insider Activity

In other news, Director Zvi Limon purchased 168,506 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were purchased 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 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Singolda purchased 60,229 shares of the business's stock in a transaction dated 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 approximately $39,339,204.96. This represents a 0.42% increase in their position. The disclosure for this purchase can be found here. Insiders own 24.70% of the company's stock.

Taboola.com Trading Up 0.6%

Shares of TBLA stock traded up $0.02 during mid-day trading on Friday, reaching $3.41. 2,783,182 shares of the stock traded hands, compared to its average volume of 1,279,023. The stock's fifty day simple moving average is $2.96 and its two-hundred day simple moving average is $3.38. Taboola.com Ltd. has a 1-year low of $2.50 and a 1-year high of $4.40. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -34.10 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.

Taboola.com declared that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 22.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Taboola.com in a research note on Thursday, March 27th. Oppenheimer reaffirmed a "market perform" rating on shares of Taboola.com in a research note on Wednesday, February 26th. B. Riley raised Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price objective on the stock in a research note on Thursday, May 8th. Citizens Jmp lowered Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Finally, JMP Securities reduced their price objective on Taboola.com from $6.00 to $5.00 and set a "market outperform" rating on the stock in a research note on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $4.25.

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.