Richard T. Scanlon Sells 250,000 Shares of Taboola.com Ltd. (NASDAQ:TBLA) Stock

Taboola.com Ltd. (NASDAQ:TBLA) Director Richard T. Scanlon sold 250,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $3.16, for a total transaction of $790,000.00. Following the completion of the sale, the director now owns 70,642 shares of the company’s stock, valued at $223,228.72. This trade represents a 77.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Taboola.com Trading Up 9.4 %

NASDAQ:TBLA traded up $0.31 on Thursday, hitting $3.61. The stock had a trading volume of 2,952,308 shares, compared to its average volume of 1,060,610. The company has a fifty day moving average price of $3.35 and a two-hundred day moving average price of $3.49. Taboola.com Ltd. has a 1-year low of $2.87 and a 1-year high of $5.00. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -36.60 and a beta of 1.28.

Taboola.com (NASDAQ:TBLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $433.10 million during the quarter, compared to analysts’ expectations of $429.43 million. Taboola.com had a negative return on equity of 1.68% and a negative net margin of 1.96%. During the same quarter in the previous year, the company posted ($0.02) earnings per share.

Institutional Trading of Taboola.com

A number of hedge funds and other institutional investors have recently modified their holdings of TBLA. Acadian Asset Management LLC lifted its position in Taboola.com by 181.2% in the second quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock valued at $6,489,000 after buying an additional 1,216,902 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Taboola.com by 32.3% in the 2nd quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock worth $4,610,000 after acquiring an additional 327,518 shares during the last quarter. Yarra Square Partners LP boosted its position in shares of Taboola.com by 6.1% during the 2nd quarter. Yarra Square Partners LP now owns 1,113,858 shares of the company’s stock worth $3,832,000 after purchasing an additional 64,373 shares during the period. Levin Capital Strategies L.P. increased its holdings in Taboola.com by 238.1% in the 1st quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock valued at $3,925,000 after purchasing an additional 622,614 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Taboola.com by 11.6% in the third 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. 42.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TBLA has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research note on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a report on Friday, November 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Taboola.com currently has an average rating of “Buy” and an average target price of $5.31.

About Taboola.com

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.