ARK Investment Management LLC lowered its holdings in Perion Network Ltd (NASDAQ:PERI - Free Report) by 16.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,527 shares of the technology company's stock after selling 35,771 shares during the period. ARK Investment Management LLC owned approximately 0.40% of Perion Network worth $1,842,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Caption Management LLC acquired a new position in shares of Perion Network in the first quarter valued at approximately $60,000. NewEdge Advisors LLC acquired a new position in shares of Perion Network in the first quarter valued at approximately $160,000. Stableford Capital II LLC acquired a new position in shares of Perion Network in the second quarter valued at approximately $451,000. Jump Financial LLC grew its holdings in shares of Perion Network by 31.5% in the first quarter. Jump Financial LLC now owns 58,709 shares of the technology company's stock valued at $478,000 after purchasing an additional 14,050 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Perion Network by 98.3% in the first quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock valued at $554,000 after purchasing an additional 33,765 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Perion Network from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Perion Network in a report on Wednesday, October 8th. Lake Street Capital boosted their price target on shares of Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, Craig Hallum set a $14.00 price target on shares of Perion Network and gave the stock a "buy" rating in a report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $14.00.
Read Our Latest Report on Perion Network
Perion Network Price Performance
PERI stock opened at $9.49 on Thursday. The company has a fifty day moving average price of $9.42 and a 200 day moving average price of $9.78. Perion Network Ltd has a 12 month low of $6.99 and a 12 month high of $11.79. The company has a market cap of $425.44 million, a price-to-earnings ratio of -79.08, a price-to-earnings-growth ratio of 0.86 and a beta of 1.54.
Perion Network Company Profile
(
Free Report)
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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