Fmr LLC Sells 11,309 Shares of Perion Network Ltd. (NASDAQ:PERI)

Fmr LLC lessened its position in Perion Network Ltd. (NASDAQ:PERI) by 69.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PERI. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 valued at $128,000 after purchasing an additional 2,299 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Perion Network by 9.7% in the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after buying an additional 1,468 shares during the last quarter. Hsbc Holdings PLC bought a new position in Perion Network during the 2nd quarter valued at approximately $157,000. State of New Jersey Common Pension Fund D raised its stake in Perion Network by 38.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 46,026 shares of the technology company’s stock valued at $384,000 after buying an additional 12,875 shares during the last quarter. Finally, Equitable Trust Co. boosted its holdings in Perion Network by 51.6% in the second quarter. Equitable Trust Co. now owns 55,235 shares of the technology company’s stock worth $461,000 after acquiring an additional 18,806 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PERI shares. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. Stifel Nicolaus reduced their price objective on shares of 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.13.

Perion Network Price Performance

PERI stock opened at $8.36 on Thursday. The stock has a market capitalization 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. Perion Network Ltd. has a 1-year low of $7.47 and a 1-year high of $31.60. The business has a fifty day moving average price of $8.53 and a 200-day moving average price of $8.42.

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.