Bank of America Corp DE Sells 130,801 Shares of Perion Network Ltd. (NASDAQ:PERI)

Bank of America Corp DE trimmed its position in Perion Network Ltd. (NASDAQ:PERI - Free Report) by 36.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 232,151 shares of the technology company's stock after selling 130,801 shares during the period. Bank of America Corp DE owned about 0.48% of Perion Network worth $1,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Perion Network in the fourth quarter worth about $41,000. SBI Securities Co. Ltd. purchased a new position in Perion Network in the fourth quarter worth about $45,000. Perritt Capital Management Inc purchased a new position in Perion Network in the fourth quarter worth about $127,000. Orion Portfolio Solutions LLC boosted its position in Perion Network by 8.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock worth $294,000 after purchasing an additional 2,711 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its position in Perion Network by 146.0% in the fourth quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company's stock worth $311,000 after purchasing an additional 21,790 shares during the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.

Perion Network Trading Up 0.5%

PERI traded up $0.05 on Friday, hitting $10.26. 174,668 shares of the company's stock traded hands, compared to its average volume of 485,704. The company's 50 day simple moving average is $9.42 and its 200-day simple moving average is $8.95. The firm has a market cap of $459.90 million, a price-to-earnings ratio of 39.46, a P/E/G ratio of 0.76 and a beta of 1.47. Perion Network Ltd. has a one year low of $7.00 and a one year high of $12.44.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Lake Street Capital raised their price objective on Perion Network from $10.50 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Roth Capital set a $14.00 price objective on Perion Network in a research note on Wednesday, May 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a research note on Wednesday, May 14th. Wall Street Zen raised Perion Network from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Roth Mkm raised Perion Network from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $9.00 to $14.00 in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Perion Network presently has a consensus rating of "Hold" and an average price target of $12.13.

About Perion Network

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.