Bank of America Corp DE Sells 441,145 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

Bank of America Corp DE decreased its holdings in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 41.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 633,071 shares of the company's stock after selling 441,145 shares during the quarter. Bank of America Corp DE owned 0.22% of Taboola.com worth $2,311,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Yelin Lapidot Holdings Management Ltd. purchased a new stake in Taboola.com in the 4th quarter valued at about $1,724,000. Empowered Funds LLC increased its stake in Taboola.com by 410.5% in the 4th quarter. Empowered Funds LLC now owns 512,422 shares of the company's stock valued at $1,870,000 after buying an additional 412,042 shares during the last quarter. Quantbot Technologies LP increased its stake in Taboola.com by 61.5% in the 4th quarter. Quantbot Technologies LP now owns 55,863 shares of the company's stock valued at $204,000 after buying an additional 21,281 shares during the last quarter. Virtu Financial LLC purchased a new stake in Taboola.com in the 4th quarter valued at about $81,000. Finally, Geode Capital Management LLC increased its stake in Taboola.com by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 288,168 shares of the company's stock valued at $1,052,000 after buying an additional 48,188 shares during the last quarter. Institutional investors own 42.89% of the company's stock.

Taboola.com Price Performance

Shares of NASDAQ TBLA traded up $0.02 during mid-day trading on Wednesday, reaching $3.58. 791,289 shares of the company were exchanged, compared to its average volume of 1,324,496. Taboola.com Ltd. has a 52 week low of $2.50 and a 52 week high of $4.30. 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 stock has a market capitalization of $1.15 billion, a PE ratio of -35.80 and a beta of 1.21. The company's 50 day moving average price is $3.10 and its 200 day moving average price is $3.40.

Taboola.com announced that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on TBLA. Benchmark decreased their price objective on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Citizens Jmp cut shares of Taboola.com from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $4.00 price objective on shares of Taboola.com in a research note on Thursday, March 27th. Oppenheimer reiterated a "market perform" rating on shares of Taboola.com in a research note on Wednesday, February 26th. Finally, B. Riley upgraded shares of Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price objective for the company in a research note 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $4.25.

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.