Harel Insurance Investments & Financial Services Ltd. Sells 32,400 Shares of Perion Network Ltd (NASDAQ:PERI)

Harel Insurance Investments & Financial Services Ltd. trimmed its holdings in shares of Perion Network Ltd (NASDAQ:PERI - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,478,513 shares of the technology company's stock after selling 32,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned approximately 7.76% of Perion Network worth $28,315,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PERI. Systematic Financial Management LP raised its holdings in Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock worth $5,489,000 after acquiring an additional 179,557 shares during the last quarter. Sphera Management Technology Funds Ltd purchased a new position in Perion Network in the 4th quarter worth approximately $995,000. Arrowstreet Capital Limited Partnership purchased a new position in Perion Network in the 4th quarter worth approximately $755,000. ExodusPoint Capital Management LP purchased a new position in Perion Network in the 4th quarter worth approximately $615,000. Finally, Clearline Capital LP raised its holdings in Perion Network by 20.5% in the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock worth $2,877,000 after acquiring an additional 57,880 shares during the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Stock Down 1.4%

PERI traded down $0.15 on Monday, hitting $10.81. The company had a trading volume of 164,509 shares, compared to its average volume of 402,501. The company has a market cap of $484.61 million, a PE ratio of -63.59, a PEG ratio of 1.07 and a beta of 1.44. Perion Network Ltd has a 12-month low of $7.00 and a 12-month high of $11.79. The business's fifty day simple moving average is $10.21 and its 200 day simple moving average is $9.16.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PERI. Wall Street Zen upgraded shares of Perion Network from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Roth Capital set a $14.00 target price on shares of Perion Network in a research note on Wednesday, May 14th. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a research note on Wednesday, May 14th. Lake Street Capital boosted their target price on shares of Perion Network from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and boosted their target price for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.38.

Perion Network Company 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.