Insider Selling: Taboola.com Ltd. (NASDAQ:TBLA) Major Shareholder Sells $4,269,438.72 in Stock

Taboola.com Ltd. (NASDAQ:TBLA) major shareholder Apollo Management Holdings Gp, sold 988,296 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.32, for a total transaction of $4,269,438.72. Following the transaction, the insider now owns 44,210,406 shares in the company, valued at approximately $190,988,953.92. The trade was a 2.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Taboola.com Price Performance

Shares of TBLA stock opened at $2.84 on Friday. The business has a fifty day simple moving average of $3.62 and a 200 day simple moving average of $3.53. The company has a market cap of $836.85 million, a P/E ratio of -28.40 and a beta of 1.33. 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 $4.66.

Taboola.com declared that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 22.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Taboola.com

A number of hedge funds have recently made changes to their positions in TBLA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Taboola.com by 37.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,075 shares of the company’s stock worth $1,362,000 after purchasing an additional 101,677 shares in the last quarter. Wolverine Trading LLC increased its holdings in shares of Taboola.com by 98.4% during the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after buying an additional 8,463 shares in the last quarter. Sphera Management Technology Funds Ltd bought a new position in shares of Taboola.com in the 4th quarter valued at $730,000. Squarepoint Ops LLC boosted its holdings in shares of Taboola.com by 168.1% during the 4th quarter. Squarepoint Ops LLC now owns 150,793 shares of the company’s stock valued at $550,000 after acquiring an additional 94,555 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Taboola.com by 184.9% during the 4th quarter. Two Sigma Advisers LP now owns 355,000 shares of the company’s stock worth $1,296,000 after acquiring an additional 230,400 shares during the last quarter. 42.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research report on Tuesday, February 25th. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. 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. Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC dropped their target price on shares of Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.