Levin Capital Strategies L.P. Trims 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. reduced its position in shares of Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 67.3% during the first quarter, according to the company in its most recent 13F filing with the 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 about 0.09% of Taboola.com worth $761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TBLA. Wellington Management Group LLP increased its stake in Taboola.com by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company's stock valued at $70,102,000 after buying an additional 1,109,602 shares during the last quarter. Phoenix Financial Ltd. lifted its holdings in Taboola.com by 0.3% during the first quarter. Phoenix Financial Ltd. now owns 7,419,080 shares of the company's stock worth $21,886,000 after acquiring an additional 21,400 shares during the period. Millennium Management LLC boosted its position in 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 during the last quarter. Renaissance Technologies LLC boosted its position in 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 during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Taboola.com by 1,257.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company's stock valued at $4,973,000 after purchasing an additional 1,262,042 shares during the period. Institutional investors own 42.89% of the company's stock.

Wall Street Analyst Weigh In

TBLA has been the topic of several research reports. Benchmark lowered their price objective on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. B. Riley upgraded Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price target for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC upped their price objective on shares of Taboola.com from $3.34 to $4.50 and gave the company a "buy" rating in a report on Tuesday, June 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.38.

Insider Buying and Selling

In related news, COO Eldad Maniv sold 20,083 shares of Taboola.com stock in a transaction 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 sale, the chief operating officer owned 10,872,377 shares in the company, valued at $40,771,413.75. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 24.70% of the stock is owned by insiders.

Taboola.com Price Performance

Shares of NASDAQ TBLA traded up $0.17 during mid-day trading on Wednesday, reaching $3.38. 3,522,977 shares of the company were exchanged, compared to its average volume of 1,000,747. The stock has a market capitalization of $1.09 billion, a PE ratio of 84.52 and a beta of 1.27. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. Taboola.com Ltd. has a 52 week low of $2.50 and a 52 week high of $4.30. The company's 50 day moving average price is $3.54 and its 200 day moving average price is $3.34.

Taboola.com (NASDAQ:TBLA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05). Taboola.com had a return on equity of 3.32% and a net margin of 0.77%. The business had revenue of $465.50 million during the quarter, compared to analysts' expectations of $448.62 million. During the same quarter in the previous year, the business earned ($0.01) EPS. Taboola.com's revenue for the quarter was up 8.7% compared to the same quarter last year.

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.