Insider Selling: Taboola.com (NASDAQ:TBLA) Major Shareholder Sells 12,000,000 Shares of 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 dated Thursday, May 28th. The shares were sold at an average price of $4.40, for a total value of $52,800,000.00. Following the transaction, the insider directly owned 18,039,644 shares in the company, valued at approximately $79,374,433.60. This represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Taboola.com Price Performance

Shares of NASDAQ TBLA traded up $0.07 during trading hours on Monday, reaching $4.95. 3,323,075 shares of the stock traded hands, compared to its average volume of 3,497,048. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $4.03 and its two-hundred day simple moving average is $3.91. The company has a market capitalization of $1.20 billion, a P/E ratio of 13.03 and a beta of 1.50. Taboola.com Ltd. has a 52-week low of $2.84 and a 52-week high of $5.26.

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

Institutional Investors Weigh In On Taboola.com

Several hedge funds have recently made changes to their positions in TBLA. Baird Financial Group Inc. bought a new stake in shares of Taboola.com during the first quarter valued at approximately $59,000. AQR Capital Management LLC boosted its position in shares of Taboola.com by 60.6% during the first quarter. AQR Capital Management LLC now owns 998,731 shares of the company’s stock valued at $2,946,000 after purchasing an additional 376,684 shares in the last quarter. Empowered Funds LLC boosted its holdings in Taboola.com by 41.1% in the first quarter. Empowered Funds LLC now owns 722,984 shares of the company’s stock worth $2,133,000 after acquiring an additional 210,562 shares in the last quarter. Creative Planning bought a new stake in Taboola.com in the second quarter worth $154,000. Finally, American Century Companies Inc. boosted its holdings in Taboola.com by 22.3% in the second quarter. American Century Companies Inc. now owns 420,732 shares of the company’s stock worth $1,540,000 after acquiring an additional 76,640 shares in the last quarter. 42.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TBLA has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Taboola.com in a research note on Tuesday, April 21st. Needham & Company LLC lifted their price target on Taboola.com from $4.50 to $5.50 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research cut Taboola.com from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Rosenblatt Securities lifted their price target on Taboola.com from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, TD Cowen boosted their target price on Taboola.com from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, May 11th. 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 a consensus price target of $5.90.

About Taboola.com

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.