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

Renaissance Technologies LLC reduced its stake in shares of Taboola.com Ltd. (NASDAQ:TBLA) by 4.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,120,800 shares of the company’s stock after selling 99,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Taboola.com were worth $6,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stoic Point Capital Management LLC bought a new stake in shares of Taboola.com during the 4th quarter worth about $5,699,000. Two Sigma Investments LP raised its stake in shares of Taboola.com by 114.6% in the 3rd quarter. Two Sigma Investments LP now owns 2,005,558 shares of the company’s stock valued at $6,839,000 after acquiring an additional 1,070,864 shares in the last quarter. Walleye Capital LLC acquired a new stake in Taboola.com in the 4th quarter worth approximately $4,414,000. Marshall Wace LLP acquired a new stake in Taboola.com in the 4th quarter worth approximately $4,008,000. Finally, HRT Financial LP bought a new stake in Taboola.com during the fourth quarter worth approximately $3,196,000. Institutional investors and hedge funds own 42.89% of the company’s stock.

Taboola.com Price Performance

Shares of NASDAQ:TBLA opened at $5.29 on Wednesday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 13.92 and a beta of 1.50. The business has a 50 day moving average price of $5.00 and a 200 day moving average price of $4.18. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.07. Taboola.com Ltd. has a twelve month low of $2.84 and a twelve month high of $5.71.

Taboola.com (NASDAQ:TBLA) last issued its quarterly 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 return on equity of 10.72% and a net margin of 5.64%.The company had revenue of $466.39 million for the quarter, compared to the consensus estimate of $453.30 million. During the same period in the previous year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts predict that Taboola.com Ltd. will post 0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

TBLA has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Taboola.com in a report on Friday, July 17th. Benchmark upped their price objective on shares of Taboola.com from $4.50 to $6.50 and gave the stock a “buy” rating in a 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 note on Saturday, May 9th. 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 report on Thursday, May 7th. Finally, Zacks Research lowered shares of Taboola.com from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.90.

Insider Activity

In other news, major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of the firm’s stock in a transaction on 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 sale, the insider owned 18,039,644 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 20.60% of the company’s stock.

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.