New York State Common Retirement Fund Sells 10,284 Shares of Perion Network Ltd (NASDAQ:PERI)

New York State Common Retirement Fund trimmed its position in Perion Network Ltd (NASDAQ:PERI) by 12.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,196 shares of the technology company’s stock after selling 10,284 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of Perion Network worth $588,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PERI. Systematic Financial Management LP lifted its holdings in shares of Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after purchasing an additional 179,557 shares in the last quarter. Sphera Management Technology Funds Ltd bought a new stake in shares of Perion Network in the fourth quarter valued at about $995,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Perion Network in the fourth quarter valued at about $755,000. ExodusPoint Capital Management LP bought a new stake in shares of Perion Network in the fourth quarter valued at about $615,000. Finally, Clearline Capital LP lifted its holdings in shares of Perion Network by 20.5% in the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock valued at $2,877,000 after purchasing an additional 57,880 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PERI has been the topic of a number of research reports. Lake Street Capital boosted their price target on Perion Network from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Wednesday, May 14th. Roth Capital set a $14.00 target price on Perion Network in a report on Wednesday, May 14th. Wall Street Zen upgraded Perion Network from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Roth Mkm upgraded Perion Network from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $14.00 in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Perion Network has an average rating of “Moderate Buy” and an average price target of $12.38.

Perion Network Stock Performance

PERI opened at $11.05 on Friday. Perion Network Ltd has a 52-week low of $6.99 and a 52-week high of $11.79. The firm has a market capitalization of $495.37 million, a PE ratio of -65.00, a PEG ratio of 1.09 and a beta of 1.44. The business’s 50-day simple moving average is $10.55 and its 200 day simple moving average is $9.40.

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.