LPL Financial LLC Purchases 6,649 Shares of Perion Network Ltd $PERI

LPL Financial LLC boosted its position in Perion Network Ltd (NASDAQ:PERI) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,563 shares of the technology company’s stock after buying an additional 6,649 shares during the period. LPL Financial LLC owned approximately 0.54% of Perion Network worth $1,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Perion Network in the 4th quarter valued at about $41,000. State of Wyoming increased its position in Perion Network by 217.2% in the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock valued at $167,000 after buying an additional 13,472 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Perion Network by 56.4% during the 4th quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company’s stock valued at $225,000 after purchasing an additional 9,589 shares during the last quarter. Jump Financial LLC boosted its stake in Perion Network by 150.1% during the 4th quarter. Jump Financial LLC now owns 44,659 shares of the technology company’s stock valued at $378,000 after purchasing an additional 26,799 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Perion Network by 89.1% during the 4th quarter. BNP Paribas Financial Markets now owns 46,053 shares of the technology company’s stock valued at $390,000 after purchasing an additional 21,697 shares during the last quarter. 68.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PERI. Roth Mkm upgraded Perion Network from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th. Roth Capital set a $14.00 price target on Perion Network in a research note on Wednesday, May 14th. Wall Street Zen upgraded Perion Network from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Lake Street Capital lifted their price target on Perion Network from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.38.

Perion Network Price Performance

Shares of PERI stock opened at $9.06 on Thursday. The company’s fifty day simple moving average is $10.32 and its two-hundred day simple moving average is $9.54. Perion Network Ltd has a 1 year low of $6.99 and a 1 year high of $11.79. The stock has a market capitalization of $406.16 million, a price-to-earnings ratio of -75.50, a PEG ratio of 0.91 and a beta of 1.43.

Perion Network Company 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.