Taboola.com (NASDAQ:TBLA) Shares Gap Up - Should You Buy?

Key Points

• Taboola.com shares gapped up from $3.21 to $3.70 before settling at $3.37, trading over 1 million shares during the session.
• Analysts have a consensus rating of "Moderate Buy" for Taboola.com, with price targets ranging from $4.00 to $4.50.
• Insider trading activity includes COO Eldad Maniv selling over 20,000 shares at an average price of $3.75, reducing his total holdings in the company.

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.21, but opened at $3.70. Taboola.com shares last traded at $3.37, with a volume of 1,076,189 shares trading hands.

Analyst Upgrades and Downgrades

TBLA has been the subject of a number of recent analyst reports. Benchmark cut their price target on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 8th. B. Riley increased their price objective on Taboola.com from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC raised their target price on Taboola.com from $3.34 to $4.50 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.50.

Taboola.com Price Performance

The stock has a market cap of $868.22 million, a PE ratio of 82.00 and a beta of 1.27. 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 stock's 50-day moving average is $3.53 and its two-hundred day moving average is $3.33.

Insider Buying and Selling at Taboola.com

In related news, COO Eldad Maniv sold 20,083 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $3.75, for a total transaction of $75,311.25. Following the transaction, the chief operating officer owned 10,872,377 shares of the company's stock, valued at approximately $40,771,413.75. This represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in Taboola.com by 32.8% during the 4th quarter. American Century Companies Inc. now owns 241,110 shares of the company's stock worth $880,000 after buying an additional 59,532 shares during the period. Geode Capital Management LLC increased its position in shares of Taboola.com by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 288,168 shares of the company's stock worth $1,052,000 after acquiring an additional 48,188 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Taboola.com during the fourth quarter worth $680,000. Renaissance Technologies LLC raised its stake in shares of Taboola.com by 40.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company's stock valued at $5,644,000 after acquiring an additional 443,700 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in Taboola.com by 31.2% in the fourth quarter. XTX Topco Ltd now owns 79,018 shares of the company's stock valued at $288,000 after purchasing an additional 18,789 shares during the period. Hedge funds and other institutional investors own 42.89% of the company's stock.

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.