State of New Jersey Common Pension Fund D Decreases Holdings in Perion Network Ltd. (NASDAQ:PERI)

State of New Jersey Common Pension Fund D decreased its position in shares of Perion Network Ltd. (NASDAQ:PERI) by 35.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 29,734 shares of the technology company’s stock after selling 16,292 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Perion Network were worth $234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of Perion Network during the 1st quarter worth $204,000. BigSur Wealth Management LLC purchased a new position in Perion Network in the 2nd quarter valued at about $84,000. Pitcairn Co. boosted its position in Perion Network by 9.0% in the 1st quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock valued at $279,000 after buying an additional 1,027 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 purchasing an additional 2,299 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after purchasing an additional 1,468 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Stock Performance

Perion Network stock opened at $8.41 on Wednesday. The company has a 50 day moving average price of $8.18 and a 200 day moving average price of $9.04. Perion Network Ltd. has a 52 week low of $7.47 and a 52 week high of $32.99. The firm has a market capitalization of $397.88 million, a price-to-earnings ratio of 9.04, a P/E/G ratio of 0.42 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PERI shares. Stifel Nicolaus cut their target price on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Finally, Lake Street Capital upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.