Taboola.com (NASDAQ:TBLA) Major Shareholder Apollo Management Holdings Gp, Sells 12,000,000 Shares of Stock

Taboola.com Ltd. (NASDAQ:TBLA) major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.40, for a total transaction of $52,800,000.00. Following the completion of the sale, the insider directly owned 18,039,644 shares in the company, valued at approximately $79,374,433.60. This trade represents a 39.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Taboola.com Stock Up 1.4%

Shares of NASDAQ:TBLA opened at $4.95 on Tuesday. The firm’s 50 day moving average price is $4.03 and its 200 day moving average price is $3.91. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 13.03 and a beta of 1.50. Taboola.com Ltd. has a fifty-two week low of $2.84 and a fifty-two week high of $5.26. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.07.

Taboola.com (NASDAQ:TBLA) last issued its earnings results on Wednesday, May 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.21. The firm had revenue of $466.40 million for the quarter, compared to analysts’ expectations of $453.30 million. Taboola.com had a net margin of 5.64% and a return on equity of 10.72%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, equities research analysts predict that Taboola.com Ltd. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Benchmark raised their price objective on shares of Taboola.com from $4.50 to $6.50 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Taboola.com in a report on Tuesday, April 21st. TD Cowen raised their price objective on shares of Taboola.com from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Zacks Research cut shares of Taboola.com from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Wall Street Zen raised shares of Taboola.com from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Taboola.com has an average rating of “Moderate Buy” and a consensus price target of $5.90.

Hedge Funds Weigh In On Taboola.com

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in shares of Taboola.com by 31.5% in the 1st quarter. SG Americas Securities LLC now owns 23,125 shares of the company’s stock valued at $72,000 after acquiring an additional 5,546 shares during the period. LPL Financial LLC increased its holdings in shares of Taboola.com by 25.8% in the 4th quarter. LPL Financial LLC now owns 28,308 shares of the company’s stock valued at $130,000 after acquiring an additional 5,814 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Taboola.com by 20.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 50,827 shares of the company’s stock valued at $176,000 after acquiring an additional 8,500 shares during the period. CWM LLC increased its holdings in shares of Taboola.com by 25.5% in the 4th quarter. CWM LLC now owns 42,061 shares of the company’s stock valued at $194,000 after acquiring an additional 8,558 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Taboola.com by 16.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 63,574 shares of the company’s stock valued at $273,000 after acquiring an additional 8,886 shares during the period. 42.89% of the stock is owned by institutional investors and hedge funds.

About Taboola.com

Taboola.com (NASDAQ: TBLA) operates a leading content discovery platform that connects advertisers with premium publishers through native advertising and personalized recommendations. The company’s technology analyzes user behavior and contextual information to deliver promoted content, video, and product recommendations to audiences across a network of thousands of websites and mobile apps. By leveraging machine learning and big data, Taboola helps publishers generate incremental revenue while enabling advertisers to reach engaged users at scale.

Taboola’s suite of products includes feed placements, video recommendations, and sponsored content units designed to blend seamlessly with editorial pages.