Sphera Management Technology Funds Ltd acquired a new stake in Perion Network Ltd. (NASDAQ:PERI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 117,517 shares of the technology company's stock, valued at approximately $995,000. Sphera Management Technology Funds Ltd owned 0.24% of Perion Network as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new stake in Perion Network during the 4th quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new stake in Perion Network during the 4th quarter worth approximately $45,000. Perritt Capital Management Inc purchased a new stake in Perion Network during the 4th quarter worth approximately $127,000. State of Wyoming increased its stake in Perion Network by 217.2% during the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company's stock worth $167,000 after buying an additional 13,472 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of 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 purchasing an additional 9,589 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company's stock.
Perion Network Trading Down 1.7%
Shares of NASDAQ PERI traded down $0.19 during mid-day trading on Friday, reaching $10.76. The company had a trading volume of 293,999 shares, compared to its average volume of 495,568. The firm has a 50 day simple moving average of $8.93 and a two-hundred day simple moving average of $8.82. The stock has a market cap of $482.32 million, a P/E ratio of 41.39, a PEG ratio of 0.76 and a beta of 1.47. Perion Network Ltd. has a 52-week low of $7.00 and a 52-week high of $12.74.
Perion Network (NASDAQ:PERI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The company had revenue of $129.58 million during the quarter, compared to analysts' expectations of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, equities analysts expect that Perion Network Ltd. will post 0.51 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on PERI shares. Wall Street Zen raised shares of Perion Network from a "sell" rating to a "hold" rating in a research report on Wednesday. Roth Mkm raised shares of Perion Network from a "neutral" rating to a "buy" rating and increased their price objective for the company from $9.00 to $14.00 in a research report on Wednesday, May 14th. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Lake Street Capital increased their price objective on shares of Perion Network from $10.50 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Roth Capital set a $14.00 price objective on shares of Perion Network in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Perion Network currently has an average rating of "Hold" and an average price target of $12.13.
Get Our Latest Stock Analysis on PERI
Perion Network 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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