D. E. Shaw & Co. Inc. purchased a new position in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 215,042 shares of the company's stock, valued at approximately $785,000. D. E. Shaw & Co. Inc. owned 0.07% of Taboola.com as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Taboola.com during the fourth quarter valued at approximately $1,724,000. Empowered Funds LLC lifted its stake in Taboola.com by 410.5% in the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company's stock worth $1,870,000 after acquiring an additional 412,042 shares during the period. Quantbot Technologies LP lifted its stake in Taboola.com by 61.5% in the fourth quarter. Quantbot Technologies LP now owns 55,863 shares of the company's stock worth $204,000 after acquiring an additional 21,281 shares during the period. Virtu Financial LLC purchased a new stake in Taboola.com in the fourth quarter worth about $81,000. Finally, Geode Capital Management LLC lifted its stake in Taboola.com by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 288,168 shares of the company's stock worth $1,052,000 after acquiring an additional 48,188 shares during the period. 42.89% of the stock is currently owned by institutional investors.
Insider Activity at Taboola.com
In other news, CEO Adam Singolda purchased 60,229 shares of Taboola.com stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $2.72 per share, with a total value of $163,822.88. Following the completion of the acquisition, the chief executive officer now owns 14,462,943 shares in the company, valued at $39,339,204.96. The trade was a 0.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zvi Limon purchased 168,506 shares of the business's stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost 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 $8,753,032.19. The trade was a 5.98% increase in their position. The disclosure for this purchase can be found here. 24.70% of the stock is currently owned by insiders.
Taboola.com Stock Performance
TBLA traded up $0.13 during trading on Wednesday, hitting $3.63. The stock had a trading volume of 1,758,920 shares, compared to its average volume of 1,309,859. The firm has a market capitalization of $1.17 billion, a P/E ratio of -36.25 and a beta of 1.21. Taboola.com Ltd. has a twelve month low of $2.50 and a twelve month high of $4.30. The company's 50-day moving average price is $3.03 and its 200 day moving average price is $3.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31.
Taboola.com declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 22.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
TBLA has been the topic of several recent analyst reports. Benchmark cut their price objective on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $4.00 price objective on shares of Taboola.com in a report on Thursday, March 27th. B. Riley upgraded shares of Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price objective on the stock in a report on Thursday, May 8th. Oppenheimer reissued a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. Finally, Citizens Jmp cut shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Taboola.com has a consensus rating of "Moderate Buy" and an average target price of $4.25.
Check Out Our Latest Stock Report on Taboola.com
About Taboola.com
(
Free Report)
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.
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