Wellington Management Group LLP Has $70.10 Million Stake in Taboola.com Ltd. (NASDAQ:TBLA)

Wellington Management Group LLP increased its stake in Taboola.com Ltd. (NASDAQ:TBLA) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,205,915 shares of the company’s stock after purchasing an additional 1,109,602 shares during the period. Wellington Management Group LLP owned approximately 0.07% of Taboola.com worth $70,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Taboola.com during the fourth quarter worth about $68,000. Virtu Financial LLC bought a new position in shares of Taboola.com during the 4th quarter worth approximately $81,000. KLP Kapitalforvaltning AS bought a new position in shares of Taboola.com during the 4th quarter worth approximately $109,000. Harbor Capital Advisors Inc. raised its holdings in shares of Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after purchasing an additional 6,094 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Taboola.com in the third quarter worth $116,000. Institutional investors own 42.89% of the company’s stock.

Insider Buying and Selling

In other news, CEO Adam Singolda acquired 60,229 shares of Taboola.com stock in a transaction dated Friday, February 28th. The stock was bought 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Zvi Limon bought 168,506 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $2.93 per share, for a total transaction of $493,722.58. Following the purchase, the director now owns 2,987,383 shares of the company’s stock, valued at $8,753,032.19. This trade represents a 5.98 % increase in their position. The disclosure for this purchase can be found here. 22.40% of the stock is owned by insiders.

Taboola.com Price Performance

Shares of NASDAQ TBLA opened at $2.66 on Friday. Taboola.com Ltd. has a twelve month low of $2.62 and a twelve month high of $4.60. The company has a market cap of $783.81 million, a PE ratio of -26.60 and a beta of 1.33. The business’s 50 day moving average price is $3.32 and its two-hundred day moving average price is $3.47. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Taboola.com declared that its board has authorized a stock repurchase program on Wednesday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 22.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have commented on TBLA shares. Benchmark reissued a “buy” rating and set a $4.50 price target on shares of Taboola.com in a research report on Thursday, March 27th. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $5.00 to $4.00 in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $4.00 price objective on shares of Taboola.com in a report on Thursday, March 27th. Finally, Citizens Jmp cut shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.38.

Taboola.com Profile

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.