Taboola.com (NASDAQ:TBLA) Major Shareholder Sells $52,800,000.00 in Stock

Taboola.com Ltd. (NASDAQ:TBLA) major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.40, for a total transaction of $52,800,000.00. Following the completion of the sale, the insider owned 18,039,644 shares in the company, valued at approximately $79,374,433.60. The trade was a 39.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Taboola.com Trading Down 6.0%

TBLA opened at $4.57 on Thursday. The company’s 50 day moving average is $4.09 and its 200-day moving average is $3.91. Taboola.com Ltd. has a 1-year low of $2.84 and a 1-year high of $5.26. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.11 billion, a P/E ratio of 12.03 and a beta of 1.51.

Taboola.com (NASDAQ:TBLA) last posted its earnings results on Wednesday, May 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.21. Taboola.com had a net margin of 5.64% and a return on equity of 10.72%. The business had revenue of $466.40 million for the quarter, compared to the consensus estimate of $453.30 million. During the same period last year, the company earned ($0.03) EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Taboola.com Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. acquired a new position in shares of Taboola.com during the 1st quarter valued at $59,000. AQR Capital Management LLC lifted its position in shares of Taboola.com by 60.6% during the 1st quarter. AQR Capital Management LLC now owns 998,731 shares of the company’s stock valued at $2,946,000 after acquiring an additional 376,684 shares during the period. Empowered Funds LLC lifted its position in shares of Taboola.com by 41.1% during the 1st quarter. Empowered Funds LLC now owns 722,984 shares of the company’s stock valued at $2,133,000 after acquiring an additional 210,562 shares during the period. Creative Planning acquired a new position in shares of Taboola.com during the 2nd quarter valued at $154,000. Finally, American Century Companies Inc. lifted its position in shares of Taboola.com by 22.3% during the 2nd quarter. American Century Companies Inc. now owns 420,732 shares of the company’s stock valued at $1,540,000 after acquiring an additional 76,640 shares during the period. Institutional investors own 42.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TBLA shares. Needham & Company LLC lifted their target price on shares of Taboola.com from $4.50 to $5.50 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Taboola.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. TD Cowen lifted their target price on shares of Taboola.com from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Benchmark lifted their target price on shares of Taboola.com from $4.50 to $6.50 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities lifted their target price on shares of Taboola.com from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5.90.

Taboola.com Company Profile

Taboola.com (NASDAQ: TBLA) operates a leading content discovery platform that connects advertisers with premium publishers through native advertising and personalized recommendations. The company’s technology analyzes user behavior and contextual information to deliver promoted content, video, and product recommendations to audiences across a network of thousands of websites and mobile apps. By leveraging machine learning and big data, Taboola helps publishers generate incremental revenue while enabling advertisers to reach engaged users at scale.

Taboola’s suite of products includes feed placements, video recommendations, and sponsored content units designed to blend seamlessly with editorial pages.