Insider Buying: Taboola.com Ltd. (NASDAQ:TBLA) Director Buys 168,506 Shares of Stock

Taboola.com Ltd. (NASDAQ:TBLA) Director Zvi Limon purchased 168,506 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost 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 in the company, 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 document filed with the SEC, which can be accessed through this link.

Taboola.com Price Performance

NASDAQ:TBLA traded down $0.09 during trading hours on Friday, reaching $2.73. The company had a trading volume of 8,022,451 shares, compared to its average volume of 1,251,005. The stock has a 50-day moving average of $3.72 and a two-hundred day moving average of $3.54. Taboola.com Ltd. has a one year low of $2.69 and a one year high of $4.76. The firm has a market capitalization of $797.15 million, a PE ratio of -27.30 and a beta of 1.27. 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 declared that its board has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 22.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TBLA shares. Citizens Jmp cut Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. JMP Securities lowered their price objective on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Monday, January 27th. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research report on Wednesday. B. Riley cut Taboola.com from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $5.00 to $4.00 in a research report on Thursday. Finally, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Taboola.com presently has an average rating of “Moderate Buy” and an average target price of $4.80.

Hedge Funds Weigh In On Taboola.com

A number of institutional investors and hedge funds have recently bought and sold shares of TBLA. JPMorgan Chase & Co. lifted its stake in shares of Taboola.com by 54.7% during the third quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock valued at $2,443,000 after acquiring an additional 257,009 shares during the period. Empowered Funds LLC lifted its stake in shares of Taboola.com by 410.5% during the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock valued at $1,870,000 after acquiring an additional 412,042 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after purchasing an additional 6,094 shares during the last quarter. Barclays PLC increased its holdings in Taboola.com by 1,218.5% in the third quarter. Barclays PLC now owns 36,431 shares of the company’s stock valued at $122,000 after purchasing an additional 33,668 shares during the last quarter. Finally, State Street Corp increased its holdings in Taboola.com by 5.5% in the third quarter. State Street Corp now owns 305,350 shares of the company’s stock valued at $1,026,000 after purchasing an additional 16,055 shares during the last quarter. Institutional investors and hedge funds own 42.89% of the company’s stock.

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.