Geode Capital Management LLC Has $457,000 Stock Position in Perion Network Ltd. (NASDAQ:PERI)

Geode Capital Management LLC lifted its holdings in Perion Network Ltd. (NASDAQ:PERI) by 67.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,975 shares of the technology company’s stock after acquiring an additional 23,423 shares during the period. Geode Capital Management LLC’s holdings in Perion Network were worth $457,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. raised its stake in Perion Network by 9.4% in the 2nd quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock worth $496,000 after purchasing an additional 5,078 shares in the last quarter. Equitable Trust Co. raised its position in shares of Perion Network by 19.1% in the third quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock valued at $518,000 after buying an additional 10,535 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Perion Network by 38.8% in 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 period. Point72 Asset Management L.P. acquired a new stake in Perion Network during the third quarter worth approximately $134,000. Finally, Hsbc Holdings PLC bought a new position in Perion Network during the 2nd quarter worth $157,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Perion Network Stock Down 1.1 %

Perion Network stock opened at $8.60 on Monday. The stock has a market cap of $413.89 million, a PE ratio of 9.25, a P/E/G ratio of 0.45 and a beta of 1.46. Perion Network Ltd. has a 12-month low of $7.47 and a 12-month high of $31.38. The business’s 50-day moving average price is $8.66 and its two-hundred day moving average price is $8.41.

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.