Taboola.com (NASDAQ:TBLA) Sees Strong Trading Volume – Should You Buy?

Shares of Taboola.com Ltd. (NASDAQ:TBLA) saw unusually-high trading volume on Thursday . Approximately 1,666,339 shares were traded during trading, an increase of 70% from the previous session’s volume of 977,954 shares.The stock last traded at $2.95 and had previously closed at $3.09.

Analysts Set New Price Targets

TBLA has been the subject of a number of analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research report on Wednesday. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a research note on Tuesday. B. Riley downgraded Taboola.com from a “buy” rating to a “neutral” rating and lowered their target price for the company from $5.00 to $4.00 in a research report on Thursday. Citizens Jmp downgraded Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Needham & Company LLC decreased their price target on Taboola.com from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Taboola.com Stock Down 3.2 %

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $3.70 and a 200-day moving average price of $3.54. The stock has a market capitalization of $797.15 million, a P/E ratio of -27.30 and a beta of 1.27.

Taboola.com declared that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 22.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Taboola.com news, CEO Adam Singolda bought 60,229 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the transaction, the chief executive officer now directly owns 14,462,943 shares of the company’s stock, valued at approximately $39,339,204.96. This represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zvi Limon bought 168,506 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $2.93 per share, with a total value of $493,722.58. Following the transaction, the director now directly owns 2,987,383 shares of the company’s stock, valued at approximately $8,753,032.19. This trade represents a 5.98 % 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 company insiders.

Institutional Trading of Taboola.com

Large investors have recently modified their holdings of the company. Aigen Investment Management LP bought a new position in Taboola.com in the third quarter worth approximately $63,000. Wolverine Trading LLC boosted its position in shares of Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after purchasing an additional 8,463 shares in the last quarter. R Squared Ltd purchased a new position in Taboola.com in the 4th quarter worth $68,000. Virtu Financial LLC purchased a new position in Taboola.com in the 4th quarter worth $81,000. Finally, Aquatic Capital Management LLC purchased a new position in Taboola.com in the 4th quarter worth $103,000. Hedge funds and other institutional investors own 42.89% of the company’s stock.

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.