Taboola.com (NASDAQ:TBLA) Sets New 1-Year Low – Time to Sell?

Shares of Taboola.com Ltd. (NASDAQ:TBLA) hit a new 52-week low during trading on Friday . The stock traded as low as $2.63 and last traded at $2.70, with a volume of 924030 shares changing hands. The stock had previously closed at $2.85.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $4.00 price objective on shares of Taboola.com in a report on Thursday, March 27th. Citizens Jmp downgraded Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. B. Riley cut Taboola.com from a “buy” rating to a “neutral” rating and reduced their price target for the company from $5.00 to $4.00 in a research report on Thursday, February 27th. Finally, JMP Securities reduced their price target on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Taboola.com presently has an average rating of “Moderate Buy” and a consensus target price of $4.38.

Taboola.com Stock Down 6.1 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $788.23 million, a PE ratio of -26.75 and a beta of 1.33. The company’s fifty day moving average is $3.34 and its 200-day moving average is $3.48.

Taboola.com announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 22.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Zvi Limon acquired 168,506 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $2.93 per share, for a total transaction 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. This trade represents a 5.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Singolda acquired 60,229 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $2.72 per share, with a total value of $163,822.88. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 22.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TBLA. Quantbot Technologies LP bought a new position in shares of Taboola.com in the third quarter worth about $116,000. Verition Fund Management LLC purchased a new position in Taboola.com during the 3rd quarter worth $126,000. Point72 Asset Management L.P. raised its position in Taboola.com by 529.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 86,600 shares of the company’s stock valued at $291,000 after purchasing an additional 72,849 shares in the last quarter. State Street Corp raised its position in Taboola.com by 5.5% during the 3rd quarter. State Street Corp now owns 305,350 shares of the company’s stock valued at $1,026,000 after purchasing an additional 16,055 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Taboola.com by 698.2% in the 3rd quarter. Jane Street Group LLC now owns 93,353 shares of the company’s stock worth $314,000 after buying an additional 81,658 shares during the period. Hedge funds and other institutional investors own 42.89% of the company’s stock.

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.