Allianz Asset Management GmbH Grows Stock Holdings in Taboola.com Ltd. (NASDAQ:TBLA)

Key Points

• Allianz Asset Management GmbH increased its holdings in Taboola.com Ltd. by 110.8%, owning 292,100 shares valued at approximately $862,000.
• Analysts have given Taboola.com a consensus rating of "Moderate Buy" with a target price ranging from $4.00 to $4.50.
• Insider activity includes COO Eldad Maniv selling 20,083 shares at an average price of $3.75, resulting in a small decrease in their ownership.

Allianz Asset Management GmbH grew its holdings in shares of Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 110.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 292,100 shares of the company's stock after buying an additional 153,500 shares during the period. Allianz Asset Management GmbH owned 0.10% of Taboola.com worth $862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Millennium Management LLC lifted its holdings in shares of Taboola.com by 42.9% during the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company's stock valued at $8,094,000 after purchasing an additional 665,944 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Taboola.com by 16.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,300 shares of the company's stock valued at $122,000 after acquiring an additional 5,829 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Taboola.com during the 4th quarter valued at about $785,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Taboola.com by 37.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,075 shares of the company's stock worth $1,362,000 after acquiring an additional 101,677 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Taboola.com by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 288,168 shares of the company's stock valued at $1,052,000 after purchasing an additional 48,188 shares during the last quarter. 42.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Needham & Company LLC boosted their target price on shares of Taboola.com from $3.34 to $4.50 and gave the company a "buy" rating in a research note on Tuesday, June 17th. B. Riley raised Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price objective for the company in a report on Thursday, May 8th. Finally, Benchmark lowered their target price on Taboola.com from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4.38.

Taboola.com Stock Performance

Shares of NASDAQ:TBLA traded down $0.03 during midday trading on Friday, hitting $3.18. The company had a trading volume of 1,311,337 shares, compared to its average volume of 941,434. Taboola.com Ltd. has a 12-month low of $2.50 and a 12-month high of $4.30. The company has a fifty day moving average of $3.55 and a two-hundred day moving average of $3.34. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 79.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Activity at Taboola.com

In related news, COO Eldad Maniv sold 20,083 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $3.75, for a total value of $75,311.25. Following the completion of the sale, the chief operating officer directly owned 10,872,377 shares of the company's stock, valued at approximately $40,771,413.75. This represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.70% of the stock is owned by company insiders.

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.