Connor Clark & Lunn Investment Management Ltd. Cuts Stock Position in Taboola.com Ltd. $TBLA

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Taboola.com Ltd. (NASDAQ:TBLA) by 11.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,202,451 shares of the company’s stock after selling 150,604 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Taboola.com were worth $4,401,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Taboola.com by 65.8% in the 1st quarter. CWM LLC now owns 11,348 shares of the company’s stock worth $33,000 after acquiring an additional 4,502 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Taboola.com in the second quarter valued at about $37,000. Pallas Capital Advisors LLC acquired a new stake in shares of Taboola.com in the second quarter valued at about $41,000. Baird Financial Group Inc. purchased a new stake in shares of Taboola.com during the first quarter worth about $59,000. Finally, PFG Investments LLC acquired a new position in shares of Taboola.com during the 2nd quarter worth about $66,000. Institutional investors and hedge funds own 42.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TBLA. BTIG Research assumed coverage on Taboola.com in a report on Tuesday, October 7th. They issued a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Taboola.com in a research note on Wednesday, October 8th. B. Riley increased their price objective on Taboola.com from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Taboola.com from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4.50.

Taboola.com Stock Performance

Shares of Taboola.com stock opened at $4.18 on Friday. The business’s 50 day moving average price is $3.44 and its 200 day moving average price is $3.43. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 52.26 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 1.06. Taboola.com Ltd. has a one year low of $2.50 and a one year high of $4.30.

Insider Transactions at Taboola.com

In other news, Director Nechemia Jacob Peres sold 6,387,648 shares of Taboola.com stock in a transaction on Monday, November 10th. The stock was sold at an average price of $3.67, for a total transaction of $23,442,668.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Eldad Maniv sold 414,816 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $3.78, for a total transaction of $1,568,004.48. Following the completion of the sale, the chief operating officer directly owned 10,392,460 shares of the company’s stock, valued at $39,283,498.80. This represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,839,509 shares of company stock worth $25,139,601 in the last quarter. Company insiders own 24.70% of the company’s stock.

Taboola.com Profile

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.