David Peterschmidt Acquires 68,100 Shares of Limelight Networks, Inc. (NASDAQ:LLNW) Stock

Limelight Networks, Inc. (NASDAQ:LLNWGet Rating) Director David Peterschmidt acquired 68,100 shares of Limelight Networks stock in a transaction dated Friday, April 29th. The stock was purchased at an average price of $3.59 per share, for a total transaction of $244,479.00. Following the completion of the acquisition, the director now directly owns 144,175 shares in the company, valued at approximately $517,588.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

LLNW stock opened at $3.53 on Tuesday. The company has a market cap of $476.90 million, a P/E ratio of -9.05 and a beta of 0.83. Limelight Networks, Inc. has a 52 week low of $2.30 and a 52 week high of $5.55. The company’s 50-day moving average price is $4.66 and its 200 day moving average price is $3.85. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.86.

Limelight Networks (NASDAQ:LLNWGet Rating) last released its quarterly earnings data on Thursday, April 28th. The information services provider reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $58.00 million for the quarter, compared to the consensus estimate of $56.15 million. Limelight Networks had a negative net margin of 22.60% and a negative return on equity of 24.09%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. On average, equities research analysts expect that Limelight Networks, Inc. will post -0.22 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its position in Limelight Networks by 0.4% during the fourth quarter. Deutsche Bank AG now owns 1,132,200 shares of the information services provider’s stock worth $3,883,000 after acquiring an additional 4,021 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Limelight Networks by 25.5% in the third quarter. Teacher Retirement System of Texas now owns 19,998 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 4,066 shares during the period. California State Teachers Retirement System grew its holdings in Limelight Networks by 3.0% in the fourth quarter. California State Teachers Retirement System now owns 174,464 shares of the information services provider’s stock valued at $598,000 after purchasing an additional 5,012 shares during the period. Gamco Investors INC. ET AL grew its stake in Limelight Networks by 3.3% during the third quarter. Gamco Investors INC. ET AL now owns 163,050 shares of the information services provider’s stock worth $388,000 after buying an additional 5,200 shares during the period. Finally, Citigroup Inc. grew its stake in Limelight Networks by 1.8% during the fourth quarter. Citigroup Inc. now owns 308,805 shares of the information services provider’s stock worth $1,059,000 after buying an additional 5,524 shares during the period. 51.29% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently commented on LLNW. Truist Financial upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $7.00 in a research note on Tuesday, January 18th. Lake Street Capital lifted their price target on shares of Limelight Networks from $4.50 to $5.00 and gave the stock a “buy” rating in a research note on Friday, January 21st. They noted that the move was a valuation call. Raymond James raised their price objective on shares of Limelight Networks from $5.00 to $8.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 11th. Zacks Investment Research raised shares of Limelight Networks from a “sell” rating to a “hold” rating in a research report on Friday, February 11th. Finally, TheStreet raised shares of Limelight Networks from a “d+” rating to a “c-” rating in a research report on Monday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Limelight Networks currently has a consensus rating of “Buy” and a consensus price target of $5.54.

About Limelight Networks (Get Rating)

Limelight Networks, Inc provides content delivery network and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides online video platforms that integrates and manages advanced video delivery.

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