Connor Clark & Lunn Investment Management Ltd. Acquires 63,324 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Taboola.com Ltd. (NASDAQ:TBLA) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,480,668 shares of the company’s stock after purchasing an additional 63,324 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.51% of Taboola.com worth $5,404,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its stake in Taboola.com by 22.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after purchasing an additional 6,094 shares during the period. Meitav Investment House Ltd. lifted its position in shares of Taboola.com by 9.4% in the 4th quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock worth $279,000 after acquiring an additional 6,500 shares during the period. Tidal Investments LLC lifted its position in shares of Taboola.com by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock worth $618,000 after acquiring an additional 8,127 shares during the period. State Street Corp lifted its position in shares of Taboola.com by 5.5% in the 3rd quarter. State Street Corp now owns 305,350 shares of the company’s stock worth $1,026,000 after acquiring an additional 16,055 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of Taboola.com in the 3rd quarter worth approximately $63,000. Institutional investors own 42.89% of the company’s stock.

Insider Transactions at Taboola.com

In other Taboola.com news, Director Zvi Limon purchased 168,506 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $2.93 per share, with a total value of $493,722.58. Following the acquisition, the director now directly owns 2,987,383 shares of the company’s stock, valued at approximately $8,753,032.19. This trade represents a 5.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam Singolda purchased 60,229 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $2.72 per share, with a total value of $163,822.88. Following the completion of the acquisition, the chief executive officer now directly owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. This represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Needham & Company LLC reduced their price objective on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. B. Riley downgraded Taboola.com from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $5.00 to $4.00 in a research report on Thursday, February 27th. Citizens Jmp downgraded Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a research report on Tuesday, February 25th. Finally, 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 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 an average target price of $4.50.

Taboola.com Trading Down 0.3 %

Shares of TBLA opened at $2.95 on Monday. Taboola.com Ltd. has a 1 year low of $2.69 and a 1 year high of $4.60. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $3.51. The stock has a market cap of $869.26 million, a PE ratio of -29.50 and a beta of 1.33.

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

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.