Short Interest in Taboola.com Ltd. (NASDAQ:TBLA) Drops By 49.0%

Taboola.com Ltd. (NASDAQ:TBLA) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 2,928,428 shares, a decline of 49.0% from the April 30th total of 5,746,796 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average trading volume of 4,122,241 shares, the days-to-cover ratio is currently 0.7 days.

Taboola.com Stock Performance

NASDAQ:TBLA traded down $0.09 during trading hours on Tuesday, reaching $4.87. The company had a trading volume of 3,323,075 shares, compared to its average volume of 3,497,048. Taboola.com has a 1-year low of $2.84 and a 1-year high of $5.26. The firm has a market cap of $1.18 billion, a PE ratio of 12.71 and a beta of 1.50. The business’s 50 day moving average price is $4.03 and its 200-day moving average price is $3.91. 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 (NASDAQ:TBLA) last announced its earnings results on Wednesday, May 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.21. The business had revenue of $466.40 million during the quarter, compared to the consensus estimate 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 prior year, the company posted ($0.03) EPS. Research analysts forecast that Taboola.com will post 0.41 EPS for the current year.

Insider Buying and Selling at Taboola.com

In related news, major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of Taboola.com stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.40, for a total value of $52,800,000.00. Following the completion of the sale, the insider directly owned 18,039,644 shares in the company, valued at $79,374,433.60. The trade was a 39.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. LSV Asset Management raised its stake in Taboola.com by 2,001.4% in the 3rd quarter. LSV Asset Management now owns 1,983,558 shares of the company’s stock valued at $6,764,000 after purchasing an additional 1,889,168 shares during the last quarter. Stoic Point Capital Management LLC acquired a new position in Taboola.com in the 4th quarter valued at $5,699,000. Two Sigma Investments LP raised its stake in 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 purchasing an additional 1,070,864 shares during the last quarter. Walleye Capital LLC acquired a new position in Taboola.com in the 4th quarter valued at $4,414,000. Finally, Marshall Wace LLP acquired a new position in Taboola.com in the 4th quarter valued at $4,008,000. 42.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on TBLA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Taboola.com in a research report on Tuesday, April 21st. Wall Street Zen upgraded Taboola.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. TD Cowen upped their target price on Taboola.com from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Rosenblatt Securities upped their target price on Taboola.com from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Needham & Company LLC boosted their price target on Taboola.com from $4.50 to $5.50 and gave the company a “buy” rating in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.90.

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.