Taboola.com Ltd. (NASDAQ:TBLA) Short Interest Update

Taboola.com Ltd. (NASDAQ:TBLA) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 4,170,000 shares, a growth of 23.4% from the March 31st total of 3,380,000 shares. Based on an average daily volume of 2,060,000 shares, the short-interest ratio is currently 2.0 days. Approximately 2.8% of the shares of the stock are sold short.

Insider Activity at Taboola.com

In other Taboola.com news, CEO Adam Singolda purchased 60,229 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $2.72 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Zvi Limon acquired 168,506 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the transaction, the director now directly owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. The trade was a 5.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Taboola.com

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC raised its stake in Taboola.com by 65.8% during the first quarter. CWM LLC now owns 11,348 shares of the company’s stock worth $33,000 after purchasing an additional 4,502 shares during the period. Yelin Lapidot Holdings Management Ltd. raised its position in shares of Taboola.com by 11.4% in the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 526,013 shares of the company’s stock worth $1,552,000 after buying an additional 53,700 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Taboola.com by 16.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,300 shares of the company’s stock valued at $122,000 after acquiring an additional 5,829 shares during the last quarter. Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 1,109,602 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Taboola.com by 37.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,075 shares of the company’s stock worth $1,362,000 after acquiring an additional 101,677 shares during the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Taboola.com Stock Performance

NASDAQ TBLA opened at $3.09 on Friday. 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 company has a market capitalization of $910.99 million, a PE ratio of -30.90 and a beta of 1.21. The business’s 50-day moving average price is $2.88 and its 200 day moving average price is $3.40. Taboola.com has a twelve month low of $2.50 and a twelve month high of $4.60.

Taboola.com announced that its board has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TBLA. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. JMP Securities reduced their target price 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 reaffirmed a “buy” rating and set a $4.00 price target on shares of Taboola.com in a research note on Thursday, March 27th. B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $4.00 in a research report on Thursday, February 27th. Finally, Benchmark restated a “buy” rating and set a $4.50 target price on shares of Taboola.com in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.38.

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.