Insider Buying: Taboola.com Ltd. (NASDAQ:TBLA) CEO Purchases $163,822.88 in Stock

Taboola.com Ltd. (NASDAQ:TBLA) CEO Adam Singolda purchased 60,229 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $2.72 per share, with a total value of $163,822.88. Following the purchase, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at approximately $39,339,204.96. The trade was a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Taboola.com Stock Down 3.2 %

TBLA opened at $2.73 on Monday. The company has a market cap of $804.44 million, a P/E ratio of -27.30 and a beta of 1.27. The business’s 50-day moving average price is $3.70 and its 200-day moving average price is $3.54. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com Ltd. has a 12 month low of $2.69 and a 12 month high of $4.76.

Taboola.com declared that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 22.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TBLA. Meitav Investment House Ltd. increased its holdings in Taboola.com by 11.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 69,000 shares of the company’s stock valued at $242,000 after purchasing an additional 7,000 shares during the period. ARK Investment Management LLC increased its holdings in Taboola.com by 9.2% during the 3rd quarter. ARK Investment Management LLC now owns 594,590 shares of the company’s stock valued at $1,998,000 after purchasing an additional 50,256 shares during the period. GSA Capital Partners LLP increased its holdings in Taboola.com by 11.6% during the 3rd quarter. GSA Capital Partners LLP now owns 814,598 shares of the company’s stock valued at $2,737,000 after purchasing an additional 84,382 shares during the period. Aigen Investment Management LP purchased a new position in Taboola.com during the 3rd quarter valued at about $63,000. Finally, Intellectus Partners LLC increased its holdings in Taboola.com by 4.5% during the 3rd quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock valued at $1,235,000 after purchasing an additional 16,000 shares during the period. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.