Taboola.com Ltd. (NASDAQ:TBLA) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lessened its stake in shares of Taboola.com Ltd. (NASDAQ:TBLA) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 789,524 shares of the company’s stock after selling 13,514 shares during the quarter. Levin Capital Strategies L.P. owned about 0.27% of Taboola.com worth $2,882,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Yelin Lapidot Holdings Management Ltd. acquired a new position in Taboola.com in the fourth quarter worth approximately $1,724,000. Meitav Investment House Ltd. grew its position in Taboola.com by 9.4% in the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock worth $279,000 after buying an additional 6,500 shares during the last quarter. Empowered Funds LLC grew its position in Taboola.com by 410.5% in the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock worth $1,870,000 after buying an additional 412,042 shares during the last quarter. R Squared Ltd acquired a new position in Taboola.com in the fourth quarter worth approximately $68,000. Finally, Harbor Capital Advisors Inc. grew its position in Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after buying an additional 6,094 shares during the last quarter. Institutional investors and hedge funds own 42.89% of the company’s stock.

Taboola.com Trading Down 3.2 %

Taboola.com stock opened at $2.73 on Friday. The company has a 50 day moving average price of $3.70 and a 200 day moving average price of $3.54. The firm has a market capitalization of $797.15 million, a price-to-earnings ratio of -27.30 and a beta of 1.27. Taboola.com Ltd. has a 52 week low of $2.69 and a 52 week high of $4.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31.

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

Insider Buying and Selling at Taboola.com

In related news, Director Zvi Limon bought 168,506 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $2.93 per share, with a total value of $493,722.58. Following the purchase, the director now directly owns 2,987,383 shares of the company’s stock, valued at approximately $8,753,032.19. This represents a 5.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Singolda bought 60,229 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $2.72 per share, with a total value of $163,822.88. Following the purchase, 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 disclosure for this purchase can be found here. Company insiders own 22.40% of the company’s stock.

Analyst Upgrades and Downgrades

TBLA has been the topic of several recent research reports. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research report on Wednesday. JMP Securities decreased their price objective on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research note on Monday, January 27th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a research note on Tuesday, February 25th. Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $5.00 to $4.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Taboola.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

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.