Taboola.com Ltd. (NASDAQ:TBLA) CEO Adam Singolda Acquires 60,229 Shares

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 stock was bought at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the purchase, the chief executive officer now directly owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. The trade was a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Taboola.com Price Performance

Taboola.com stock opened at $2.73 on Friday. Taboola.com Ltd. has a one year low of $2.69 and a one year high of $4.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The business has a fifty day moving average of $3.70 and a two-hundred day moving average of $3.54. The company has a market cap of $797.15 million, a P/E ratio of -27.30 and a beta of 1.27.

Taboola.com announced that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in shares of Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after buying an additional 6,094 shares in the last quarter. Meitav Investment House Ltd. increased its position in shares of Taboola.com by 9.4% in the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock valued at $279,000 after buying an additional 6,500 shares in the last quarter. Tidal Investments LLC increased its position in shares of Taboola.com by 4.6% in the third quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock valued at $618,000 after buying an additional 8,127 shares in the last quarter. Wolverine Trading LLC increased its position in shares of Taboola.com by 98.4% in the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock valued at $63,000 after buying an additional 8,463 shares in the last quarter. Finally, Intellectus Partners LLC increased its position in shares of Taboola.com by 4.5% in the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock valued at $1,235,000 after buying an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TBLA shares. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Taboola.com in a report on Tuesday. Needham & Company LLC decreased their price target on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday. B. Riley downgraded Taboola.com from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $5.00 to $4.00 in a report on Thursday. Finally, JMP Securities decreased their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.50.

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.