Swiss National Bank Raises Stake in Perion Network Ltd. (NASDAQ:PERI)

Swiss National Bank increased its position in shares of Perion Network Ltd. (NASDAQ:PERI – Get Rating) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,579 shares of the technology company’s stock after purchasing an additional 3,273 shares during the period. Swiss National Bank owned 0.22% of Perion Network worth $2,438,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BNP Paribas Arbitrage SNC bought a new stake in Perion Network during the third quarter valued at about $58,000. Counterpoint Mutual Funds LLC bought a new stake in Perion Network during the 4th quarter valued at approximately $152,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Perion Network by 55.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,547 shares of the technology company’s stock worth $185,000 after purchasing an additional 3,388 shares in the last quarter. Independent Advisor Alliance bought a new position in Perion Network in the 3rd quarter worth approximately $212,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Perion Network during the 4th quarter valued at approximately $217,000. Hedge funds and other institutional investors own 50.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PERI. Stifel Nicolaus lowered shares of Perion Network from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research report on Monday, April 24th. StockNews.com started coverage on shares of Perion Network in a report on Thursday, May 18th. They set a “buy” rating for the company. Lake Street Capital lifted their target price on Perion Network from $38.00 to $40.00 in a report on Thursday, May 4th. Raymond James increased their price target on Perion Network from $32.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Finally, Needham & Company LLC upped their price objective on Perion Network from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, March 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Perion Network has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Perion Network Trading Up 2.0 %

PERI opened at $30.91 on Thursday. The stock has a 50-day moving average of $36.31 and a 200 day moving average of $31.76. Perion Network Ltd. has a 12 month low of $16.41 and a 12 month high of $42.75. The firm has a market cap of $1.43 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.49 and a beta of 1.29.

About Perion Network

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Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands, agencies, and publishers. It operates through the following geographical segments: North America (mainly US), Europe, and Other. The firm solutions include Publisher Platform, Search Monetization, SORT-Cookieless Targeting, High Impact Creative, and Actionable Monitoring.