Perion Network Ltd. (NASDAQ:PERI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in Perion Network Ltd. (NASDAQ:PERI) by 56.8% in the third quarter, HoldingsChannel.com reports. The firm owned 24,356 shares of the technology company’s stock after selling 32,046 shares during the quarter. BNP Paribas Financial Markets’ holdings in Perion Network were worth $192,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC raised its stake in shares of Perion Network by 997.5% during the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock worth $1,117,000 after buying an additional 121,622 shares during the period. Y.D. More Investments Ltd increased its stake in shares of Perion Network by 580.4% during the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock worth $2,191,000 after purchasing an additional 225,520 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Perion Network by 156.9% during the second quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock valued at $1,603,000 after acquiring an additional 117,253 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Perion Network by 436.2% in the 3rd quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock valued at $603,000 after purchasing an additional 62,204 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Perion Network during the 2nd quarter worth $696,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Analysts Set New Price Targets

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

Perion Network Stock Performance

Shares of PERI stock opened at $8.58 on Wednesday. Perion Network Ltd. has a one year low of $7.47 and a one year high of $31.61. The firm’s 50 day moving average price is $8.48 and its 200-day moving average price is $8.57. The firm has a market cap of $405.89 million, a P/E ratio of 9.23, a P/E/G ratio of 0.47 and a beta of 1.47.

About Perion Network

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.