Taboola.com (NASDAQ:TBLA) Trading Up 6.3% Following Insider Buying Activity

Taboola.com Ltd. (NASDAQ:TBLA) shares rose 6.3% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $2.95 and last traded at $2.90. Approximately 5,916,297 shares traded hands during trading, an increase of 336% from the average daily volume of 1,355,938 shares. The stock had previously closed at $2.73.

Specifically, CEO Adam Singolda bought 60,229 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $2.72 per share, with a total value of $163,822.88. Following the completion of the acquisition, the chief executive officer now 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Zvi Limon purchased 168,506 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $2.93 per share, with a total value of $493,722.58. Following the completion of the acquisition, the director now directly owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. This trade represents a 5.98 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TBLA shares. B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research note on Thursday, February 27th. JMP Securities dropped their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Monday, January 27th. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Needham & Company LLC dropped 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, February 27th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Three research 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 stock has an average rating of “Moderate Buy” and an average price target of $4.50.

Taboola.com Stock Performance

The firm has a market capitalization of $828.01 million, a price-to-earnings ratio of -28.10 and a beta of 1.27. The company has a 50-day moving average price of $3.68 and a 200-day moving average price of $3.54. 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 declared that its Board of Directors has initiated a share buyback program 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 programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wolverine Trading LLC raised 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 valued at $63,000 after purchasing an additional 8,463 shares in the last quarter. Aigen Investment Management LP acquired a new position in Taboola.com during the 3rd quarter valued at about $63,000. R Squared Ltd bought a new stake in shares of Taboola.com during the 4th quarter worth about $68,000. Virtu Financial LLC bought a new stake in shares of Taboola.com during the 4th quarter worth about $81,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Taboola.com in the 4th quarter worth approximately $103,000. 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.