Perion Network Ltd. (NASDAQ:PERI) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in Perion Network Ltd. (NASDAQ:PERI) by 38.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,026 shares of the technology company’s stock after buying an additional 12,875 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.10% of Perion Network worth $384,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PERI. ARK Investment Management LLC lifted its stake in shares of Perion Network by 156.9% in the 2nd quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock valued at $1,603,000 after purchasing an additional 117,253 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Perion Network during the 1st quarter worth about $820,000. Vanguard Group Inc. grew its position in shares of Perion Network by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock valued at $33,387,000 after acquiring an additional 35,476 shares during the period. Acadian Asset Management LLC increased its stake in shares of Perion Network by 43.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock valued at $14,367,000 after purchasing an additional 522,424 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Perion Network in the 4th quarter worth about $220,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Perion Network stock opened at $7.85 on Thursday. The stock has a market cap of $371.38 million, a price-to-earnings ratio of 3.74, a price-to-earnings-growth ratio of 0.40 and a beta of 1.48. The firm has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $11.54. Perion Network Ltd. has a 1-year low of $7.47 and a 1-year high of $32.99.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $108.69 million during the quarter, compared to the consensus estimate of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. Equities analysts expect that Perion Network Ltd. will post 0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

PERI has been the topic of a number of recent analyst reports. Oppenheimer lowered Perion Network from an “outperform” rating to a “market perform” rating in a research report on Monday, June 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Finally, Lake Street Capital raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.67.

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.