Russell Investments Group Ltd. boosted its holdings in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 2,445.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,489,450 shares of the information services provider’s stock after buying an additional 1,430,943 shares during the period. Russell Investments Group Ltd.’s holdings in Limelight Networks were worth $7,482,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Wells Fargo & Company MN lifted its position in Limelight Networks by 26.7% in the first quarter. Wells Fargo & Company MN now owns 133,601 shares of the information services provider’s stock worth $549,000 after buying an additional 28,170 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Limelight Networks by 17.7% during the first quarter. California State Teachers Retirement System now owns 139,696 shares of the information services provider’s stock worth $574,000 after purchasing an additional 21,053 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Limelight Networks by 204.2% during the second quarter. Acadian Asset Management LLC now owns 331,026 shares of the information services provider’s stock worth $1,480,000 after purchasing an additional 222,201 shares during the last quarter. Northpointe Capital LLC lifted its position in shares of Limelight Networks by 13.9% during the second quarter. Northpointe Capital LLC now owns 835,174 shares of the information services provider’s stock worth $3,733,000 after purchasing an additional 101,691 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Limelight Networks by 135.3% during the second quarter. Algert Global LLC now owns 489,609 shares of the information services provider’s stock worth $2,189,000 after purchasing an additional 281,489 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the company. BidaskClub upgraded Limelight Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. Craig Hallum assumed coverage on Limelight Networks in a research report on Monday, August 27th. They set a “buy” rating and a $6.00 target price for the company. Zacks Investment Research downgraded Limelight Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. ValuEngine downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Finally, TheStreet downgraded Limelight Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Limelight Networks currently has an average rating of “Hold” and an average target price of $6.21.

NASDAQ:LLNW opened at $3.30 on Tuesday. Limelight Networks, Inc. has a twelve month low of $3.25 and a twelve month high of $5.96. The firm has a market cap of $399.61 million, a PE ratio of -165.00, a price-to-earnings-growth ratio of 7.84 and a beta of 2.47.

Limelight Networks (NASDAQ:LLNW) last released its earnings results on Thursday, October 18th. The information services provider reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Limelight Networks had a return on equity of 2.32% and a net margin of 7.07%. The business had revenue of $49.32 million during the quarter, compared to the consensus estimate of $49.01 million. During the same period last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that Limelight Networks, Inc. will post 0.03 EPS for the current year.

In other news, insider Kurt Silverman sold 7,500 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $5.00, for a total transaction of $37,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert A. Lento sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $4.89, for a total value of $195,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,800 shares of company stock worth $697,505. Insiders own 10.60% of the company’s stock.

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About Limelight Networks

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

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Institutional Ownership by Quarter for Limelight Networks (NASDAQ:LLNW)

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