Insider Selling: Taboola.com Ltd. (NASDAQ:TBLA) Major Shareholder Sells 988,296 Shares of Stock

Taboola.com Ltd. (NASDAQ:TBLA) major shareholder Apollo Management Holdings Gp, sold 988,296 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.32, for a total value of $4,269,438.72. Following the completion of the sale, the insider now owns 44,210,406 shares of the company’s stock, valued at $190,988,953.92. The trade was a 2.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Taboola.com Stock Performance

Shares of TBLA opened at $3.03 on Thursday. Taboola.com Ltd. has a 12 month low of $2.69 and a 12 month high of $4.66. The stock has a fifty day moving average price of $3.64 and a 200-day moving average price of $3.53. 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 firm has a market cap of $892.83 million, a PE ratio of -30.30 and a beta of 1.27.

Taboola.com announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 22.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Taboola.com

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP purchased a new stake in shares of Taboola.com during the 3rd quarter valued at $63,000. Wolverine Trading LLC increased its position in shares of Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock valued at $63,000 after acquiring an additional 8,463 shares during the period. R Squared Ltd acquired a new position in shares of Taboola.com in the 4th quarter valued at $68,000. Virtu Financial LLC acquired a new position in shares of Taboola.com in the 4th quarter valued at $81,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Taboola.com in the 4th quarter valued at $103,000. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TBLA shares. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. JMP Securities lowered 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. Needham & Company LLC lowered their target price on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Finally, B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $4.00 in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock 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.