Taboola.com Ltd. (NASDAQ:TBLA) Sees Significant Growth in Short Interest

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,170,000 shares, an increase of 23.4% from the March 31st total of 3,380,000 shares. Approximately 2.8% of the company's stock are sold short. Based on an average daily trading volume, of 2,060,000 shares, the short-interest ratio is currently 2.0 days.

Insider Activity

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

Hedge Funds Weigh In On Taboola.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of Taboola.com by 65.8% in the first quarter. CWM LLC now owns 11,348 shares of the company's stock valued at $33,000 after buying an additional 4,502 shares in the last quarter. Wolverine Trading LLC boosted its position in shares of Taboola.com by 98.4% during the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company's stock worth $63,000 after purchasing an additional 8,463 shares in the last quarter. R Squared Ltd acquired a new position in shares of Taboola.com during the 4th quarter worth $68,000. Virtu Financial LLC purchased a new position in shares of Taboola.com in the 4th quarter valued at about $81,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Taboola.com in the fourth quarter valued at about $103,000. Institutional investors and hedge funds own 42.89% of the company's stock.

Wall Street Analyst Weigh In

TBLA has been the subject of several research analyst reports. Benchmark reissued a "buy" rating and issued a $4.50 price objective on shares of Taboola.com in a report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $4.00 price target on shares of Taboola.com in a research note on Thursday, March 27th. Citizens Jmp lowered shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. B. Riley downgraded shares of Taboola.com from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $5.00 to $4.00 in a research note on Thursday, February 27th. Finally, Oppenheimer restated a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. Three 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.com, Taboola.com presently has an average rating of "Moderate Buy" and an average target price of $4.38.

Taboola.com Stock Up 2.0 %

Shares of NASDAQ:TBLA opened at $3.09 on Friday. Taboola.com has a fifty-two week low of $2.50 and a fifty-two week high of $4.60. 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's 50-day simple moving average is $2.88 and its 200-day simple moving average is $3.40. The company has a market cap of $910.99 million, a price-to-earnings ratio of -30.90 and a beta of 1.21.

Taboola.com announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 22.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.

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