ARK Investment Management LLC Sells 87,946 Shares of Taboola.com Ltd. (NASDAQ:TBLA)

ARK Investment Management LLC decreased its position in shares of Taboola.com Ltd. (NASDAQ:TBLA) by 14.8% during the fourth quarter, HoldingsChannel reports. The fund owned 506,644 shares of the company’s stock after selling 87,946 shares during the quarter. ARK Investment Management LLC’s holdings in Taboola.com were worth $1,849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP boosted its stake in shares of Taboola.com by 11.6% during the 3rd quarter. GSA Capital Partners LLP now owns 814,598 shares of the company’s stock worth $2,737,000 after purchasing an additional 84,382 shares during the period. JPMorgan Chase & Co. lifted its stake in Taboola.com by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock worth $2,443,000 after purchasing an additional 257,009 shares during the last quarter. Empowered Funds LLC boosted its position 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 period. Intellectus Partners LLC grew its stake in shares of Taboola.com by 4.5% during the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock valued at $1,235,000 after buying an additional 16,000 shares during the last quarter. Finally, Algert Global LLC raised its holdings in shares of Taboola.com by 10.3% in the third quarter. Algert Global LLC now owns 327,151 shares of the company’s stock worth $1,099,000 after buying an additional 30,597 shares during the period. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Taboola.com Price Performance

Shares of TBLA stock opened at $3.09 on Thursday. Taboola.com Ltd. has a twelve month low of $2.87 and a twelve month high of $4.96. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $3.74 and a two-hundred day simple moving average of $3.55. The stock has a market capitalization of $902.27 million, a price-to-earnings ratio of -30.90 and a beta of 1.27.

Taboola.com announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

TBLA has been the subject of a number of recent analyst reports. JMP Securities dropped their price objective on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a report on Friday, January 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Taboola.com has an average rating of “Moderate Buy” and a consensus price target of $5.25.

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.