Key Points
- Apollo Management Holdings Gp sold 12,000,000 shares of Taboola.com stock at an average price of $4.40, generating about $52.8 million. The sale reduced its ownership by nearly 40%, though it still holds more than 18 million shares.
- Taboola.com recently reported strong quarterly results, with earnings of $0.20 per share, beating estimates, and revenue of $466.4 million, up 9.1% year over year. The company also topped analyst revenue expectations and posted a 5.64% net margin.
- Wall Street sentiment remains moderately positive, with five analysts rating the stock a Buy and three a Hold. The consensus price target is $5.90, above the recent opening price of $4.95.
Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of Taboola.com stock in a transaction 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Taboola.com Stock Performance
NASDAQ:TBLA opened at $4.95 on Tuesday. The firm's fifty day moving average price is $4.03 and its 200 day moving average price is $3.91. Taboola.com Ltd. has a 1-year low of $2.84 and a 1-year high of $5.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 13.03 and a beta of 1.50.
Taboola.com (NASDAQ:TBLA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.21. Taboola.com had a net margin of 5.64% and a return on equity of 10.72%. The firm had revenue of $466.40 million for the quarter, compared to analyst estimates of $453.30 million. During the same period last year, the firm posted ($0.03) EPS. Taboola.com's quarterly revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that Taboola.com Ltd. will post 0.41 EPS for the current year.
Institutional Investors Weigh In On Taboola.com
Institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management boosted its position in shares of Taboola.com by 2,001.4% in the 3rd quarter. LSV Asset Management now owns 1,983,558 shares of the company's stock worth $6,764,000 after buying an additional 1,889,168 shares in the last quarter. AlpInvest Partners B.V. purchased a new stake in shares of Taboola.com in the 3rd quarter worth about $1,028,000. Quent Capital LLC purchased a new stake in shares of Taboola.com in the 4th quarter worth about $968,000. Nano Cap New Millennium Growth Fund L P acquired a new position in Taboola.com in the 4th quarter valued at about $2,305,000. Finally, UBS Group AG raised its stake in Taboola.com by 38.0% in the 4th quarter. UBS Group AG now owns 948,096 shares of the company's stock valued at $4,371,000 after purchasing an additional 260,996 shares during the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on TBLA shares. Rosenblatt Securities boosted their target price on shares of Taboola.com from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Zacks Research lowered shares of Taboola.com from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Benchmark boosted their target price on shares of Taboola.com from $4.50 to $6.50 and gave the stock a "buy" rating in a research report on Thursday, May 7th. TD Cowen boosted 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, Weiss Ratings restated a "hold (c)" rating on shares of Taboola.com in a research report on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Taboola.com has a consensus rating of "Moderate Buy" and a consensus price target of $5.90.
View Our Latest Report on TBLA
Taboola.com Company Profile
(
Get Free Report)
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.
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