Taboola.com (NASDAQ:TBLA) Sees Unusually-High Trading Volume – Here’s What Happened

Taboola.com Ltd. (NASDAQ:TBLA) saw unusually-high trading volume on Tuesday . Approximately 1,722,346 shares were traded during mid-day trading, an increase of 55% from the previous session’s volume of 1,109,821 shares.The stock last traded at $3.00 and had previously closed at $2.96.

Wall Street Analyst Weigh In

TBLA has been the topic of a number of research analyst reports. Citizens Jmp cut shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. B. Riley cut shares of Taboola.com from a “buy” rating to a “neutral” rating and cut their target price for the stock from $5.00 to $4.00 in a research note on Thursday, February 27th. Needham & Company LLC decreased their price target on shares of Taboola.com from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Finally, JMP Securities lowered their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4.50.

Taboola.com Stock Performance

The firm has a fifty day moving average of $3.50 and a 200 day moving average of $3.51. The stock has a market cap of $867.79 million, a price-to-earnings ratio of -29.45 and a beta of 1.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31.

Taboola.com declared that its board has approved a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Taboola.com

In other news, CEO Adam Singolda acquired 60,229 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the acquisition, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. This represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zvi Limon bought 168,506 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the acquisition, the director now directly owns 2,987,383 shares in the company, valued at $8,753,032.19. This trade represents a 5.98 % 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 have recently modified their holdings of TBLA. JPMorgan Chase & Co. raised its stake in shares of Taboola.com by 54.7% in 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 in the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Taboola.com in the 4th quarter valued at about $1,724,000. Empowered Funds LLC raised its position in Taboola.com by 410.5% in the 4th quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock valued at $1,870,000 after purchasing an additional 412,042 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Taboola.com by 22.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after buying an additional 6,094 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Taboola.com by 1,218.5% during the third quarter. Barclays PLC now owns 36,431 shares of the company’s stock worth $122,000 after buying an additional 33,668 shares in 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.