KLP Kapitalforvaltning AS Makes New $109,000 Investment in Taboola.com Ltd. (NASDAQ:TBLA)

KLP Kapitalforvaltning AS acquired a new stake in shares of Taboola.com Ltd. (NASDAQ:TBLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,800 shares of the company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Yelin Lapidot Holdings Management Ltd. purchased a new stake in Taboola.com during the 4th quarter worth approximately $1,724,000. Empowered Funds LLC grew its holdings in shares of Taboola.com by 410.5% during the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock valued at $1,870,000 after buying an additional 412,042 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Taboola.com by 54.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock valued at $2,443,000 after acquiring an additional 257,009 shares during the period. Globeflex Capital L P purchased a new position in Taboola.com in the 4th quarter worth $778,000. Finally, Teacher Retirement System of Texas lifted its position in Taboola.com by 263.2% during the 4th quarter. Teacher Retirement System of Texas now owns 130,494 shares of the company’s stock worth $476,000 after acquiring an additional 94,565 shares during the period. 42.89% of the stock is owned by hedge funds and other institutional investors.

Taboola.com Stock Down 2.9 %

TBLA opened at $2.69 on Friday. The company has a fifty day moving average of $3.19 and a two-hundred day moving average of $3.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. Taboola.com Ltd. has a fifty-two week low of $2.50 and a fifty-two week high of $4.60. The stock has a market capitalization of $792.65 million, a price-to-earnings ratio of -26.90 and a beta of 1.21.

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

Wall Street Analyst Weigh In

TBLA has been the topic of several research reports. Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. JMP Securities cut their price objective on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Monday, January 27th. B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and decreased their target price for the company from $5.00 to $4.00 in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price target on shares of Taboola.com in a research report on Thursday, March 27th. Finally, Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Taboola.com has an average rating of “Moderate Buy” and an average target price of $4.38.

Insider Activity

In other Taboola.com news, Director Zvi Limon bought 168,506 shares of Taboola.com stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $2.93 per share, with a total value of $493,722.58. Following the purchase, the director now directly owns 2,987,383 shares in the company, valued at $8,753,032.19. This represents a 5.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam Singolda bought 60,229 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. This represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 22.40% of the company’s stock.

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.