Renaissance Technologies LLC Has $6.57 Million Position in Taboola.com Ltd. $TBLA

Renaissance Technologies LLC lowered its holdings in Taboola.com Ltd. (NASDAQ:TBLA) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,120,800 shares of the company’s stock after selling 99,600 shares during the period. Renaissance Technologies LLC owned approximately 0.87% of Taboola.com worth $6,574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Abacus Wealth Partners LLC purchased a new position in shares of Taboola.com during the fourth quarter valued at $48,000. Headlands Technologies LLC purchased a new stake in Taboola.com in the 2nd quarter worth about $43,000. DGS Capital Management LLC acquired a new stake in Taboola.com during the 4th quarter worth about $55,000. Quarry LP acquired a new stake in Taboola.com during the 3rd quarter worth about $42,000. Finally, Captrust Financial Advisors purchased a new position in Taboola.com during the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 42.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TBLA. Weiss Ratings reiterated a “hold (c)” rating on shares of Taboola.com in a report on Friday, July 17th. Zacks Research downgraded shares of Taboola.com from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Benchmark upped their price objective on shares of Taboola.com from $4.50 to $6.50 and gave the company a “buy” rating in a research note on Thursday, May 7th. TD Cowen increased 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. Finally, Wall Street Zen raised shares of Taboola.com from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.90.

Taboola.com Stock Performance

Shares of TBLA stock opened at $5.29 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.13 and a quick ratio of 1.13. Taboola.com Ltd. has a fifty-two week low of $2.84 and a fifty-two week high of $5.71. The stock’s 50-day moving average is $5.00 and its two-hundred day moving average is $4.18. The firm has a market cap of $1.29 billion, a P/E ratio of 13.92 and a beta of 1.50.

Taboola.com (NASDAQ:TBLA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.21. The business had revenue of $466.39 million during the quarter, compared to analyst estimates of $453.30 million. Taboola.com had a return on equity of 10.72% and a net margin of 5.64%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. Analysts predict that Taboola.com Ltd. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the insider owned 18,039,644 shares of the company’s stock, valued at approximately $79,374,433.60. This trade represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 20.60% of the company’s stock.

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.