Empowered Funds LLC Takes Position in Taboola.com Ltd. (NASDAQ:TBLA)

Empowered Funds LLC acquired a new position in Taboola.com Ltd. (NASDAQ:TBLA) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 100,380 shares of the company’s stock, valued at approximately $337,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its holdings in shares of Taboola.com by 74.5% in the third quarter. nVerses Capital LLC now owns 9,600 shares of the company’s stock valued at $32,000 after purchasing an additional 4,100 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Taboola.com during the first quarter valued at $61,000. Point72 Asset Management L.P. purchased a new stake in Taboola.com in the 2nd quarter worth about $47,000. Aigen Investment Management LP purchased a new position in Taboola.com during the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC purchased a new position in Taboola.com during the 2nd quarter valued at about $69,000. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on TBLA shares. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Taboola.com in a report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research note on Friday, November 8th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $5.31.

Taboola.com Stock Performance

TBLA stock opened at $3.47 on Tuesday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -34.70 and a beta of 1.28. The firm has a 50 day moving average of $3.36 and a two-hundred day moving average of $3.46. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com Ltd. has a 12 month low of $2.87 and a 12 month high of $5.00.

Taboola.com (NASDAQ:TBLA) last posted its earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $433.10 million for the quarter, compared to analyst estimates of $429.43 million. Taboola.com had a negative return on equity of 1.68% and a negative net margin of 1.96%. During the same period in the previous year, the company earned ($0.02) earnings per share.

Insiders Place Their Bets

In other news, Director Richard T. Scanlon sold 250,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $3.16, for a total value of $790,000.00. Following the completion of the sale, the director now directly owns 70,642 shares of the company’s stock, valued at approximately $223,228.72. This represents a 77.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynda M. Clarizio sold 29,606 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $3.61, for a total transaction of $106,877.66. Following the transaction, the director now directly owns 176,158 shares in the company, valued at $635,930.38. This trade represents a 14.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.40% 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.