Globeflex Capital L P Takes Position in Taboola.com Ltd. (NASDAQ:TBLA)

Globeflex Capital L P acquired a new stake in Taboola.com Ltd. (NASDAQ:TBLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 213,167 shares of the company’s stock, valued at approximately $778,000. Globeflex Capital L P owned 0.07% of Taboola.com at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TBLA. Connor Clark & Lunn Investment Management Ltd. lifted its position in Taboola.com by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock worth $5,404,000 after purchasing an additional 63,324 shares during the period. Yelin Lapidot Holdings Management Ltd. bought a new position in Taboola.com in the fourth quarter worth $1,724,000. Meitav Investment House Ltd. lifted 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 purchasing an additional 6,500 shares during the period. Empowered Funds LLC lifted 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 purchasing an additional 412,042 shares during the period. Finally, R Squared Ltd bought a new position in Taboola.com in the fourth quarter worth $68,000. 42.89% of the stock is owned by institutional investors.

Taboola.com Stock Performance

Shares of NASDAQ:TBLA opened at $2.95 on Friday. Taboola.com Ltd. has a twelve month low of $2.69 and a twelve month high of $4.60. The firm has a market cap of $869.26 million, a PE ratio of -29.50 and a beta of 1.33. 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 business has a fifty day moving average of $3.52 and a 200-day moving average of $3.51.

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

Insider Activity

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

Analyst Upgrades and Downgrades

TBLA has been the subject of several research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Needham & Company LLC dropped their price objective on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. JMP Securities dropped their price objective on 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. Finally, B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Taboola.com currently has an average rating of “Moderate Buy” and an average 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.