Insider Selling: Limelight Networks, Inc. (NASDAQ:LLNW) SVP Sells 9,212 Shares of Stock

Limelight Networks, Inc. (NASDAQ:LLNWGet Rating) SVP Eric Armstrong sold 9,212 shares of Limelight Networks stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $3.62, for a total transaction of $33,347.44. Following the completion of the transaction, the senior vice president now owns 137,112 shares of the company’s stock, valued at $496,345.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NASDAQ:LLNW traded down $0.56 during trading hours on Thursday, hitting $2.92. The stock had a trading volume of 6,689,487 shares, compared to its average volume of 2,075,335. The company has a 50 day simple moving average of $4.27 and a two-hundred day simple moving average of $3.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.31 and a quick ratio of 3.31. Limelight Networks, Inc. has a one year low of $2.30 and a one year high of $5.55. The firm has a market capitalization of $403.53 million, a price-to-earnings ratio of -7.90 and a beta of 0.83.

Limelight Networks (NASDAQ:LLNWGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). Limelight Networks had a negative net margin of 22.60% and a negative return on equity of 24.22%. The company had revenue of $58.00 million during the quarter, compared to the consensus estimate of $56.15 million. During the same period in the previous year, the firm posted ($0.11) EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Limelight Networks, Inc. will post -0.2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Limelight Networks by 196.7% during the 1st quarter. Bank of New York Mellon Corp now owns 6,728,751 shares of the information services provider’s stock worth $35,124,000 after acquiring an additional 4,460,751 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Limelight Networks by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 6,301,069 shares of the information services provider’s stock worth $32,892,000 after acquiring an additional 44,437 shares during the last quarter. State Street Corp lifted its holdings in shares of Limelight Networks by 4.2% during the 1st quarter. State Street Corp now owns 4,173,041 shares of the information services provider’s stock worth $21,783,000 after acquiring an additional 167,911 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Limelight Networks by 31.2% during the 1st quarter. Granahan Investment Management LLC now owns 3,415,867 shares of the information services provider’s stock worth $17,831,000 after acquiring an additional 811,747 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Limelight Networks by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,387,664 shares of the information services provider’s stock worth $12,464,000 after acquiring an additional 246,110 shares during the last quarter. 51.29% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on LLNW shares. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Tuesday. Raymond James lifted their price objective on shares of Limelight Networks from $5.00 to $8.00 and gave the company a “strong-buy” rating in a research note on Friday, March 11th. Cowen upgraded shares of Limelight Networks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $4.00 to $6.00 in a research note on Thursday, March 17th. StockNews.com lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a research note on Monday, May 23rd. Finally, Northland Securities upgraded shares of Limelight Networks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $5.00 to $6.50 in a research note on Tuesday, March 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $5.34.

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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