Millennium Management LLC Raises Stake in Taboola.com Ltd. (NASDAQ:TBLA)

Millennium Management LLC lifted its stake in shares of Taboola.com Ltd. (NASDAQ:TBLA) by 42.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,217,442 shares of the company’s stock after purchasing an additional 665,944 shares during the quarter. Millennium Management LLC owned about 0.76% of Taboola.com worth $8,094,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bridgeway Capital Management LLC grew its position in Taboola.com by 1,257.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company’s stock worth $4,973,000 after buying an additional 1,262,042 shares during the period. Wellington Management Group LLP boosted its stake in shares of Taboola.com by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock worth $70,102,000 after acquiring an additional 1,109,602 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Taboola.com in the 4th quarter worth approximately $1,724,000. Renaissance Technologies LLC increased its stake in Taboola.com by 40.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock valued at $5,644,000 after purchasing an additional 443,700 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Taboola.com by 410.5% during the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock worth $1,870,000 after purchasing an additional 412,042 shares during the last quarter. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TBLA. B. Riley upgraded Taboola.com from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Thursday, May 8th. Benchmark dropped their target price on shares of Taboola.com from $4.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $4.00 price objective on shares of Taboola.com in a research note on Thursday, March 27th. Finally, Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Insider Transactions at Taboola.com

In other Taboola.com news, CEO Adam Singolda acquired 60,229 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price 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 in the company, valued at approximately $39,339,204.96. This trade represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Zvi Limon purchased 168,506 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $2.93 per share, for a total transaction of $493,722.58. Following the completion of the purchase, the director now owns 2,987,383 shares in the company, valued at $8,753,032.19. The trade was a 5.98% increase in their position. The disclosure for this purchase can be found here. Insiders own 24.70% of the company’s stock.

Taboola.com Stock Performance

Shares of TBLA stock opened at $3.46 on Monday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -34.60 and a beta of 1.21. 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 50-day moving average price of $3.01 and a 200 day moving average price of $3.38. Taboola.com Ltd. has a twelve month low of $2.50 and a twelve month high of $4.30.

Taboola.com declared that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Taboola.com Profile

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.