Wellington Management Group LLP Sells 13,664,819 Shares of Taboola.com Ltd. $TBLA

Key Points

• Wellington Management Group LLP has reduced its stake in Taboola.com Ltd. by 71.1%, selling over 13 million shares, and now holds approximately 5.5 million shares valued at $16.3 million.
• Several other institutional investors have adjusted their positions, with CWM LLC increasing its stake by 65.8%, while Wolverine Trading LLC saw a stake increase of 98.4%.
• Current analyst opinions show a mixed outlook, with ratings ranging from "buy" to "hold" and an average target price of $4.50 for Taboola.com shares.

Wellington Management Group LLP lowered its position in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 71.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,541,096 shares of the company's stock after selling 13,664,819 shares during the period. Wellington Management Group LLP owned about 1.72% of Taboola.com worth $16,346,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TBLA. Geode Capital Management LLC increased its position in shares of Taboola.com by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 288,168 shares of the company's stock valued at $1,052,000 after buying an additional 48,188 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Taboola.com by 18.8% in the 4th quarter. Voya Investment Management LLC now owns 103,054 shares of the company's stock valued at $376,000 after buying an additional 16,333 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Taboola.com in the 4th quarter valued at $1,042,000. Aquatic Capital Management LLC bought a new stake in shares of Taboola.com in the 4th quarter valued at $103,000. Finally, Northern Trust Corp increased its position in shares of Taboola.com by 105.1% in the 4th quarter. Northern Trust Corp now owns 144,011 shares of the company's stock valued at $526,000 after buying an additional 73,795 shares in the last quarter. Institutional investors own 42.89% of the company's stock.

Insider Activity

In related news, Director Erez Shachar sold 27,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $3.38, for a total value of $91,260.00. Following the completion of the sale, the director directly owned 218,827 shares in the company, 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 SEC, which is accessible through the SEC website. Also, COO Eldad Maniv sold 20,083 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $3.75, for a total transaction of $75,311.25. Following the completion of the sale, the chief operating officer owned 10,872,377 shares of the company's stock, valued at $40,771,413.75. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,183 shares of company stock valued at $174,467 over the last quarter. 24.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TBLA shares. Benchmark lowered their target price on Taboola.com from $4.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen cut Taboola.com from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Needham & Company LLC increased their target price on Taboola.com from $3.34 to $4.50 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, B. Riley increased their target price on Taboola.com from $4.00 to $4.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and two have given a Hold 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 $4.50.

Taboola.com Stock Down 0.3%

Shares of Taboola.com stock traded down $0.01 during trading hours on Friday, reaching $3.34. 1,652,646 shares of the company's stock were exchanged, compared to its average volume of 1,373,260. The company has a 50 day moving average of $3.44 and a two-hundred day moving average of $3.28. Taboola.com Ltd. has a fifty-two week low of $2.50 and a fifty-two week high of $4.30. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. The stock has a market cap of $884.10 million, a P/E ratio of 83.50 and a beta of 1.27.

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.