Taboola.com (NASDAQ:TBLA) Sees Strong Trading Volume – Still a Buy?

Shares of Taboola.com Ltd. (NASDAQ:TBLA) saw unusually-high trading volume on Tuesday . Approximately 1,621,668 shares traded hands during mid-day trading, an increase of 56% from the previous session’s volume of 1,039,828 shares.The stock last traded at $3.19 and had previously closed at $3.13.

Analysts Set New Price Targets

Several brokerages recently issued reports on TBLA. Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a research report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a report on Friday, November 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.31.

Taboola.com Stock Up 4.8 %

The stock has a fifty day moving average of $3.35 and a 200-day moving average of $3.49. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14.

Taboola.com (NASDAQ:TBLA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $433.10 million for the quarter, compared to the consensus estimate of $429.43 million. Taboola.com had a negative return on equity of 1.68% and a negative net margin of 1.96%. During the same period in the prior year, the business earned ($0.02) earnings per share.

Insider Buying and Selling

In other Taboola.com news, Director Lynda M. Clarizio sold 29,606 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $3.61, for a total transaction of $106,877.66. Following the sale, the director now directly owns 176,158 shares of the company’s stock, valued at approximately $635,930.38. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in Taboola.com by 181.2% during the second quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock worth $6,489,000 after purchasing an additional 1,216,902 shares during the period. Millennium Management LLC raised its stake in Taboola.com by 32.3% in the second quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock valued at $4,610,000 after buying an additional 327,518 shares during the period. Yarra Square Partners LP lifted its position in shares of Taboola.com by 6.1% in the second quarter. Yarra Square Partners LP now owns 1,113,858 shares of the company’s stock valued at $3,832,000 after buying an additional 64,373 shares during the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of Taboola.com by 238.1% during the 1st quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock worth $3,925,000 after acquiring an additional 622,614 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of Taboola.com by 11.6% during the 3rd quarter. GSA Capital Partners LLP now owns 814,598 shares of the company’s stock worth $2,737,000 after acquiring an additional 84,382 shares during the last quarter. 42.89% of the stock is currently owned by institutional investors and hedge funds.

Taboola.com Company 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.