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

Taboola.com Ltd. (NASDAQ:TBLA) CEO Adam Singolda acquired 60,229 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $2.72 per share, with a total value of $163,822.88. Following the transaction, the chief executive officer now owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. The trade was a 0.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Taboola.com Trading Down 3.2 %

Shares of Taboola.com stock traded down $0.09 during trading on Friday, reaching $2.73. 8,022,451 shares of the company were exchanged, compared to its average volume of 1,251,005. 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 twelve month low of $2.69 and a twelve month high of $4.76. The business has a 50-day moving average price of $3.72 and a 200-day moving average price of $3.54. The firm has a market capitalization of $797.15 million, a price-to-earnings ratio of -27.30 and a beta of 1.27.

Taboola.com announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 22.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Taboola.com

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew 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 worth $2,443,000 after purchasing an additional 257,009 shares during the period. Empowered Funds LLC grew 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 worth $1,870,000 after purchasing an additional 412,042 shares during the period. Harbor Capital Advisors Inc. grew its stake 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 purchasing an additional 6,094 shares during the period. Barclays PLC grew its stake 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 purchasing an additional 33,668 shares during the period. Finally, State Street Corp grew its stake 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 acquiring an additional 16,055 shares during the period. 42.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TBLA. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a research report on Wednesday. Benchmark restated a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research report on Tuesday. JMP Securities dropped their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 27th. B. Riley downgraded Taboola.com from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $5.00 to $4.00 in a research report on Thursday. Finally, Needham & Company LLC dropped their target price on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.80.

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.