Insider Selling: Taboola.com (NASDAQ:TBLA) Major Shareholder Sells 12,000,000 Shares of Stock

Taboola.com Ltd. (NASDAQ:TBLA) major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.40, for a total transaction of $52,800,000.00. Following the transaction, the insider directly owned 18,039,644 shares of the company’s stock, valued at $79,374,433.60. This represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Taboola.com Stock Up 1.4%

Shares of NASDAQ:TBLA traded up $0.07 during midday trading on Monday, hitting $4.95. The stock had a trading volume of 3,323,075 shares, compared to its average volume of 3,497,048. The business’s 50-day simple moving average is $4.03 and its 200-day simple moving average is $3.91. Taboola.com Ltd. has a 12 month low of $2.84 and a 12 month high of $5.26. The company has a market cap of $1.20 billion, a P/E ratio of 13.03 and a beta of 1.50. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.07.

Taboola.com (NASDAQ:TBLA) last announced its earnings results on Wednesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.21. Taboola.com had a net margin of 5.64% and a return on equity of 10.72%. The company had revenue of $466.40 million during the quarter, compared to analysts’ expectations of $453.30 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Taboola.com’s quarterly revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts forecast that Taboola.com Ltd. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TBLA shares. Zacks Research cut Taboola.com from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. TD Cowen upped their target price on Taboola.com from $4.00 to $6.00 and gave the company a “buy” rating in a report on Monday, May 11th. Benchmark upped their target price on Taboola.com from $4.50 to $6.50 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Taboola.com from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Needham & Company LLC increased their price target on Taboola.com from $4.50 to $5.50 and gave the stock a “buy” rating in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.90.

Institutional Investors Weigh In On Taboola.com

Several large investors have recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC bought a new stake in shares of Taboola.com during the 4th quarter valued at about $48,000. Headlands Technologies LLC bought a new stake in shares of Taboola.com during the 2nd quarter valued at about $43,000. DGS Capital Management LLC bought a new stake in shares of Taboola.com during the 4th quarter valued at about $55,000. Quarry LP purchased a new position in shares of Taboola.com during the 3rd quarter valued at about $42,000. Finally, Captrust Financial Advisors purchased a new position in shares of Taboola.com during the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 42.89% of the company’s stock.

About Taboola.com

Taboola.com (NASDAQ: TBLA) operates a leading content discovery platform that connects advertisers with premium publishers through native advertising and personalized recommendations. The company’s technology analyzes user behavior and contextual information to deliver promoted content, video, and product recommendations to audiences across a network of thousands of websites and mobile apps. By leveraging machine learning and big data, Taboola helps publishers generate incremental revenue while enabling advertisers to reach engaged users at scale.

Taboola’s suite of products includes feed placements, video recommendations, and sponsored content units designed to blend seamlessly with editorial pages.