Levin Capital Strategies L.P. Has $761,000 Stock Position in Taboola.com Ltd. (NASDAQ:TBLA)

Key Points

• Levin Capital Strategies L.P. has sold 531,406 shares of Taboola.com Ltd., decreasing its holdings by 67.3% to 258,118 shares, currently valued at $761,000.
• Analyst ratings for Taboola.com have improved, with B. Riley upgrading the stock to a "buy" rating and setting a price target of $4.00, while others anticipate an average target price of $4.38.
• Insider trading activity includes COO Eldad Maniv selling 20,083 shares for approximately $75,311, resulting in a slight decrease in his total ownership.

Levin Capital Strategies L.P. trimmed its position in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 67.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,118 shares of the company's stock after selling 531,406 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.09% of Taboola.com worth $761,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBLA. Wellington Management Group LLP lifted its position in shares of Taboola.com by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company's stock worth $70,102,000 after purchasing an additional 1,109,602 shares in the last quarter. Phoenix Financial Ltd. lifted its position in shares of Taboola.com by 0.3% in the first quarter. Phoenix Financial Ltd. now owns 7,419,080 shares of the company's stock worth $21,886,000 after purchasing an additional 21,400 shares in the last quarter. Millennium Management LLC lifted its position in shares of Taboola.com by 42.9% in the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company's stock worth $8,094,000 after purchasing an additional 665,944 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Taboola.com by 40.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company's stock worth $5,644,000 after purchasing an additional 443,700 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Taboola.com by 1,257.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company's stock worth $4,973,000 after purchasing an additional 1,262,042 shares in the last quarter. 42.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Eldad Maniv sold 20,083 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $3.75, for a total transaction of $75,311.25. Following the transaction, the chief operating officer owned 10,872,377 shares of the company's stock, valued at approximately $40,771,413.75. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.70% of the company's stock.

Wall Street Analyst Weigh In

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

Taboola.com Stock Down 4.1%

TBLA traded down $0.14 during midday trading on Friday, hitting $3.28. 1,727,258 shares of the company's stock traded hands, compared to its average volume of 1,174,311. The company has a market cap of $868.22 million, a PE ratio of 82.00 and a beta of 1.27. The stock's fifty day simple moving average is $3.53 and its 200-day simple moving average is $3.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 1.32. Taboola.com Ltd. has a one year low of $2.50 and a one year high of $4.30.

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.