Taboola.com Ltd. $TBLA Shares Sold by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. has reduced its stake in Taboola.com Ltd. by 56.2%, selling over 4 million shares and now holding approximately 3.25 million shares.
• Recent analyst activity includes downgrades and target price adjustments, with Wall Street Zen moving the stock from a "buy" to a "hold" rating, while B. Riley increased its target price from $4.00 to $4.50.
• Insider trading showed Director Erez Shachar selling 27,000 shares at an average price of $3.38, decreasing their ownership by almost 11%.

Phoenix Financial Ltd. decreased its holdings in shares of Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 56.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,251,380 shares of the company's stock after selling 4,167,700 shares during the quarter. Phoenix Financial Ltd. owned about 1.01% of Taboola.com worth $11,900,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TBLA. Atria Wealth Solutions Inc. purchased a new position in shares of Taboola.com in the second quarter worth about $37,000. CWM LLC raised its holdings in Taboola.com by 244.7% in the 2nd quarter. CWM LLC now owns 39,116 shares of the company's stock valued at $143,000 after acquiring an additional 27,768 shares during the last quarter. Meitav Investment House Ltd. lifted its stake in Taboola.com by 66.2% in the 2nd quarter. Meitav Investment House Ltd. now owns 125,500 shares of the company's stock worth $456,000 after purchasing an additional 50,000 shares in the last quarter. PFG Investments LLC purchased a new position in Taboola.com in the 2nd quarter worth approximately $66,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Taboola.com by 34.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 55,590 shares of the company's stock valued at $205,000 after purchasing an additional 14,290 shares in the last quarter. 42.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Taboola.com

In related news, Director Erez Shachar sold 27,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $3.38, for a total transaction of $91,260.00. Following the completion of the sale, the director directly owned 218,827 shares of the company's stock, valued at approximately $739,635.26. This trade represents a 10.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 24.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TBLA. Wall Street Zen downgraded Taboola.com from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. B. Riley raised their target price on Taboola.com from $4.00 to $4.50 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Taboola.com in a report on Wednesday, October 8th. Finally, BTIG Research started coverage on shares of Taboola.com in a report on Tuesday, October 7th. They issued a "neutral" rating for the company. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.50.

Taboola.com Trading Up 2.0%

Shares of Taboola.com stock opened at $3.11 on Tuesday. The stock has a 50 day moving average of $3.33 and a 200 day moving average of $3.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a market capitalization of $823.23 million, a price-to-earnings ratio of 77.75 and a beta of 1.27. Taboola.com Ltd. has a fifty-two week low of $2.50 and a fifty-two week high of $4.30.

About Taboola.com

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.

Want to see what other hedge funds are holding TBLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Taboola.com Ltd. (NASDAQ:TBLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.