Goldman Sachs Group Inc. Purchases 64,442 Shares of Perion Network Ltd $PERI

Key Points

• Goldman Sachs Group Inc. increased its stake in Perion Network Ltd by 23.1% during Q1, now owning 343,723 shares valued at approximately $2.8 million.
• Recent analyst upgrades have raised the price target for Perion Network from $13.00 to $14.00, with a consensus rating of "Moderate Buy" as three analysts rate it a Buy.
• The company's shares opened at $9.83, with a market cap of $440.68 million and a 52-week range between $6.99 and $11.79.

Goldman Sachs Group Inc. lifted its stake in shares of Perion Network Ltd (NASDAQ:PERI - Free Report) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,723 shares of the technology company's stock after purchasing an additional 64,442 shares during the quarter. Goldman Sachs Group Inc. owned about 0.77% of Perion Network worth $2,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PERI. Caption Management LLC bought a new position in Perion Network in the 1st quarter valued at about $60,000. NewEdge Advisors LLC purchased a new stake in Perion Network in the 1st quarter valued at about $160,000. State of Wyoming increased its stake in Perion Network by 217.2% in the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company's stock valued at $167,000 after buying an additional 13,472 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Perion Network by 56.4% in the 4th quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company's stock valued at $225,000 after buying an additional 9,589 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Perion Network by 89.1% in the 4th quarter. BNP Paribas Financial Markets now owns 46,053 shares of the technology company's stock valued at $390,000 after buying an additional 21,697 shares during the last quarter. Institutional investors own 68.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Lake Street Capital raised their price target on shares of Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded shares of Perion Network from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Perion Network has a consensus rating of "Moderate Buy" and a consensus target price of $12.38.

Perion Network Stock Performance

Shares of NASDAQ PERI opened at $9.83 on Friday. The company has a market cap of $440.68 million, a PE ratio of -81.92, a P/E/G ratio of 0.86 and a beta of 1.46. The firm's 50 day moving average price is $9.90 and its 200-day moving average price is $9.57. Perion Network Ltd has a 52-week low of $6.99 and a 52-week high of $11.79.

Perion Network Profile

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.

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