Fmr LLC Cuts Stock Position in Perion Network Ltd. (NASDAQ:PERI)

Fmr LLC cut its holdings in shares of Perion Network Ltd. (NASDAQ:PERI) by 69.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,931 shares of the technology company’s stock after selling 11,309 shares during the quarter. Fmr LLC’s holdings in Perion Network were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Perion Network by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after buying an additional 2,299 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Perion Network by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after acquiring an additional 1,468 shares during the period. Equitable Trust Co. increased its stake in shares of Perion Network by 51.6% during the 2nd quarter. Equitable Trust Co. now owns 55,235 shares of the technology company’s stock worth $461,000 after purchasing an additional 18,806 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Perion Network by 43.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock worth $14,367,000 after purchasing an additional 522,424 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Perion Network by 38.8% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 46,026 shares of the technology company’s stock worth $384,000 after purchasing an additional 12,875 shares during the period. 68.12% of the stock is currently owned by institutional investors.

Perion Network Stock Performance

PERI stock opened at $8.36 on Thursday. The firm has a market cap of $395.49 million, a P/E ratio of 8.99, a P/E/G ratio of 0.45 and a beta of 1.47. The firm’s fifty day moving average is $8.53 and its 200 day moving average is $8.42. Perion Network Ltd. has a 52 week low of $7.47 and a 52 week high of $31.60.

Analysts Set New Price Targets

A number of analysts have issued reports on PERI shares. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th. Stifel Nicolaus cut their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Perion Network presently has an average rating of “Hold” and a consensus price target of $12.13.

Perion Network Profile

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.