Phoenix Financial Ltd. Has $27 Million Stock Position in Taboola.com Ltd. (NASDAQ:TBLA)

Phoenix Financial Ltd. boosted its holdings in shares of Taboola.com Ltd. (NASDAQ:TBLA - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,397,680 shares of the company's stock after purchasing an additional 98,800 shares during the period. Phoenix Financial Ltd. owned approximately 2.53% of Taboola.com worth $27,002,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Taboola.com during the 4th quarter worth $68,000. Virtu Financial LLC acquired a new position in shares of Taboola.com in the 4th quarter valued at $81,000. KLP Kapitalforvaltning AS purchased a new position in Taboola.com in the 4th quarter worth about $109,000. Harbor Capital Advisors Inc. raised its holdings in Taboola.com by 22.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company's stock worth $121,000 after buying an additional 6,094 shares during the period. Finally, Barclays PLC lifted its stake in Taboola.com by 1,218.5% during the third quarter. Barclays PLC now owns 36,431 shares of the company's stock valued at $122,000 after buying an additional 33,668 shares in the last quarter. 42.89% of the stock is currently owned by institutional investors.

Taboola.com Stock Up 0.7 %

NASDAQ TBLA traded up $0.02 during trading on Tuesday, reaching $2.77. The company's stock had a trading volume of 719,626 shares, compared to its average volume of 1,198,111. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $816.22 million, a PE ratio of -27.70 and a beta of 1.21. Taboola.com Ltd. has a 1-year low of $2.50 and a 1-year high of $4.60. The business has a 50-day moving average price of $3.15 and a 200-day moving average price of $3.44.

Taboola.com declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, Director Zvi Limon purchased 168,506 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $2.93 per share, for a total transaction of $493,722.58. Following the purchase, the director now owns 2,987,383 shares in the company, valued at $8,753,032.19. The trade was a 5.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Singolda acquired 60,229 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the purchase, the chief executive officer now directly owns 14,462,943 shares in the company, valued at $39,339,204.96. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. 22.40% of the stock is owned by insiders.

Analysts Set New Price Targets

TBLA has been the subject of a number of research reports. JMP Securities decreased their price objective on Taboola.com from $6.00 to $5.00 and set a "market outperform" rating for the company in a research report on Monday, January 27th. Oppenheimer restated a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. 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 reiterated a "buy" rating and issued a $4.00 target price on shares of Taboola.com in a research report on Thursday, March 27th. Finally, B. Riley cut shares of Taboola.com from a "buy" rating to a "neutral" rating and lowered their price target for the company from $5.00 to $4.00 in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.38.

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.