Taboola.com Ltd. (NASDAQ:TBLA) CEO Buys $163,822.88 in Stock

Taboola.com Ltd. (NASDAQ:TBLA) CEO Adam Singolda acquired 60,229 shares of Taboola.com stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $2.72 per share, with a total value of $163,822.88. Following the completion of the transaction, the chief executive officer now directly owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Taboola.com Stock Performance

NASDAQ:TBLA traded down $0.09 on Friday, hitting $2.73. The company’s stock had a trading volume of 8,022,451 shares, compared to its average volume of 1,251,005. 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 fifty day moving average of $3.72 and a two-hundred day moving average of $3.54. The firm has a market capitalization of $797.15 million, a P/E ratio of -27.30 and a beta of 1.27. Taboola.com Ltd. has a one year low of $2.69 and a one year high of $4.76.

Taboola.com announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 22.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TBLA. B. Riley cut 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. 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. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a report on Wednesday. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Taboola.com in a report on Tuesday. Finally, Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Taboola.com has an average rating of “Moderate Buy” and an average target price of $4.80.

Institutional Trading of Taboola.com

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its stake in Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after buying an additional 6,094 shares during the period. Meitav Investment House Ltd. raised its stake in Taboola.com by 9.4% in the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock valued at $279,000 after buying an additional 6,500 shares during the period. Tidal Investments LLC increased its stake in shares of Taboola.com by 4.6% during the third quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock worth $618,000 after purchasing an additional 8,127 shares during the period. Wolverine Trading LLC increased its stake 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 purchasing an additional 8,463 shares during the period. Finally, Intellectus Partners LLC increased its stake in shares of Taboola.com by 4.5% during the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock worth $1,235,000 after purchasing an additional 16,000 shares during the period. Institutional investors own 42.89% of the company’s stock.

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.