Wellington Management Group LLP Increases Position in Taboola.com Ltd. (NASDAQ:TBLA)

Wellington Management Group LLP lifted its holdings in Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,205,915 shares of the company's stock after buying an additional 1,109,602 shares during the quarter. Wellington Management Group LLP owned approximately 6.52% of Taboola.com worth $70,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TBLA. Wolverine Trading LLC raised its holdings in shares of Taboola.com by 98.4% in the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company's stock worth $63,000 after buying an additional 8,463 shares during the period. R Squared Ltd purchased a new stake in shares of Taboola.com in the fourth quarter worth approximately $68,000. Virtu Financial LLC purchased a new stake in shares of Taboola.com in the fourth quarter worth approximately $81,000. Aquatic Capital Management LLC purchased a new stake in shares of Taboola.com in the fourth quarter worth approximately $103,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Taboola.com in the fourth quarter worth approximately $109,000. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TBLA. Needham & Company LLC reiterated a "buy" rating and issued a $4.00 price target on shares of Taboola.com in a report on Thursday, March 27th. B. Riley raised Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 target price for the company in a research report on Thursday, May 8th. Oppenheimer reaffirmed a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. Benchmark decreased their target price on 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, Citizens Jmp lowered Taboola.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Taboola.com currently has a consensus rating of "Moderate Buy" and an average target price of $4.25.

Taboola.com Stock Down 1.6%

NASDAQ TBLA traded down $0.06 on Monday, reaching $3.64. 1,598,249 shares of the stock traded hands, compared to its average volume of 1,323,979. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The company has a fifty day moving average price of $3.09 and a 200-day moving average price of $3.40. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -36.40 and a beta of 1.21. Taboola.com Ltd. has a 12 month low of $2.50 and a 12 month high of $4.30.

Taboola.com declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 22.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Taboola.com Company 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.