Millennium Management LLC Acquires 665,944 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

Millennium Management LLC boosted its position in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 42.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,217,442 shares of the company's stock after buying an additional 665,944 shares during the period. Millennium Management LLC owned approximately 0.76% of Taboola.com worth $8,094,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Taboola.com during the fourth quarter worth approximately $68,000. Empowered Funds LLC boosted its stake in Taboola.com by 410.5% during 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 in the last quarter. Meitav Investment House Ltd. grew its holdings in Taboola.com by 9.4% in the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company's stock worth $279,000 after purchasing an additional 6,500 shares during the period. Yelin Lapidot Holdings Management Ltd. bought a new stake in Taboola.com in the fourth quarter valued at $1,724,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Taboola.com by 4.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company's stock valued at $5,404,000 after purchasing an additional 63,324 shares during the period. 42.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citizens Jmp lowered shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $4.00 price objective on shares of Taboola.com in a report on Thursday, March 27th. Oppenheimer reissued a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. 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. Finally, B. Riley upgraded Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price target on the stock in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4.25.

Taboola.com Trading Up 2.0%

Shares of TBLA traded up $0.08 during mid-day trading on Friday, hitting $3.74. 446,259 shares of the company's stock traded hands, compared to its average volume of 1,318,844. 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 firm has a market capitalization of $1.20 billion, a P/E ratio of -37.35 and a beta of 1.21. The business's 50-day moving average price is $3.06 and its 200-day moving average price is $3.39. Taboola.com Ltd. has a 1 year low of $2.50 and a 1 year high of $4.30.

Taboola.com declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy 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 shares are undervalued.

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.