Taboola.com (NASDAQ:TBLA) Sees Strong Trading Volume – Still a Buy?

Taboola.com Ltd. (NASDAQ:TBLA) shares saw an uptick in trading volume on Thursday . 1,666,339 shares changed hands during mid-day trading, an increase of 70% from the previous session’s volume of 977,954 shares.The stock last traded at $2.95 and had previously closed at $3.09.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TBLA. JMP Securities lowered their price objective on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a report on Monday, January 27th. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a report on Wednesday. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. Needham & Company LLC cut their target price on Taboola.com from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Taboola.com Trading Down 3.2 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The business’s 50 day moving average is $3.70 and its 200 day moving average is $3.54. The stock has a market cap of $797.15 million, a price-to-earnings ratio of -27.30 and a beta of 1.27.

Taboola.com declared that its board has initiated a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Taboola.com

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new position in Taboola.com during the third quarter worth about $63,000. Wolverine Trading LLC increased its holdings in 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. R Squared Ltd purchased a new position in shares of Taboola.com during the 4th quarter worth approximately $68,000. Virtu Financial LLC purchased a new position in shares of Taboola.com during the 4th quarter worth approximately $81,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of Taboola.com during the 4th quarter worth approximately $103,000. 42.89% of the stock is owned by hedge funds and other institutional investors.

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.