Taboola.com (NASDAQ:TBLA) Sees Large Volume Increase – Here’s Why

Shares of Taboola.com Ltd. (NASDAQ:TBLA) saw unusually-strong trading volume on Tuesday . Approximately 450,660 shares traded hands during trading, a decline of 26% from the previous session’s volume of 609,477 shares.The stock last traded at $3.95 and had previously closed at $3.95.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TBLA shares. JMP Securities cut their price target on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a report on Monday, January 27th. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Taboola.com in a report on Friday, January 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $5.25.

Taboola.com Trading Down 2.6 %

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 stock has a market capitalization of $1.09 billion, a PE ratio of -37.40 and a beta of 1.27. The stock’s 50 day simple moving average is $3.78 and its two-hundred day simple moving average is $3.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBLA. Bridgeway Capital Management LLC raised its position in shares of Taboola.com by 1,257.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company’s stock valued at $4,973,000 after purchasing an additional 1,262,042 shares during the period. Wellington Management Group LLP raised its position in shares of Taboola.com by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock valued at $70,102,000 after purchasing an additional 1,109,602 shares during the period. Millennium Management LLC raised its position in shares of Taboola.com by 42.9% in the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after purchasing an additional 665,944 shares during the period. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Taboola.com in the fourth quarter valued at approximately $1,724,000. Finally, Renaissance Technologies LLC raised its position in shares of Taboola.com by 40.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock valued at $5,644,000 after purchasing an additional 443,700 shares during the period. 42.89% of the stock is currently 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.