Sphera Funds Management LTD. cut its holdings in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 56.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,612 shares of the technology company's stock after selling 131,997 shares during the quarter. Sphera Funds Management LTD. owned 0.21% of Perion Network worth $869,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in Perion Network during the 4th quarter valued at about $489,000. Y.D. More Investments Ltd grew its holdings in shares of Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock worth $3,346,000 after purchasing an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock worth $2,984,000 after buying an additional 107,278 shares during the period. Private Capital Management LLC raised its holdings in Perion Network by 33.4% during the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock valued at $18,816,000 after buying an additional 598,228 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Perion Network in the 4th quarter worth $755,000. Hedge funds and other institutional investors own 68.12% of the company's stock.
Perion Network Stock Up 1.3%
Shares of PERI stock traded up $0.14 during trading hours on Wednesday, hitting $10.64. 353,743 shares of the company's stock traded hands, compared to its average volume of 494,874. The stock's fifty day simple moving average is $8.79 and its two-hundred day simple moving average is $8.77. Perion Network Ltd. has a 12-month low of $7.00 and a 12-month high of $12.74. The stock has a market cap of $476.94 million, a price-to-earnings ratio of 40.96, a PEG ratio of 0.76 and a beta of 1.47.
Perion Network (NASDAQ:PERI - Get Free Report) last released its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. On average, equities analysts forecast that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
PERI has been the subject of a number of analyst reports. Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.00 to $14.00 in a report on Wednesday, May 14th. Lake Street Capital lifted their price target on shares of Perion Network from $10.50 to $13.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Roth Capital set a $14.00 target price on shares of Perion Network in a research report on Wednesday, May 14th. StockNews.com raised shares of Perion Network from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Perion Network presently has an average rating of "Hold" and an average target price of $12.13.
Check Out Our Latest Analysis on PERI
About Perion Network
(
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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