Banque Pictet & Cie SA lessened its stake in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,540,000 shares of the information services provider’s stock after selling 15,537 shares during the quarter. Banque Pictet & Cie SA’s holdings in Limelight Networks were worth $3,604,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. B. Riley Wealth Management Inc. bought a new position in shares of Limelight Networks during the third quarter valued at approximately $81,000. MML Investors Services LLC bought a new position in shares of Limelight Networks during the third quarter valued at approximately $106,000. Virtu Financial LLC bought a new position in shares of Limelight Networks during the fourth quarter valued at approximately $65,000. Macquarie Group Ltd. bought a new position in shares of Limelight Networks during the second quarter valued at approximately $139,000. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Limelight Networks during the third quarter valued at approximately $251,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

LLNW opened at $3.11 on Friday. The firm has a market capitalization of $353.19 million, a price-to-earnings ratio of -155.50, a PEG ratio of 5.67 and a beta of 2.75. Limelight Networks, Inc. has a 12-month low of $2.21 and a 12-month high of $5.52.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Wednesday, January 30th. The information services provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $44.00 million during the quarter, compared to the consensus estimate of $43.73 million. Limelight Networks had a negative return on equity of 1.36% and a net margin of 5.03%. Limelight Networks’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. On average, equities analysts forecast that Limelight Networks, Inc. will post 0.04 EPS for the current year.

A number of equities analysts recently commented on LLNW shares. DA Davidson set a $7.00 target price on Limelight Networks and gave the company a “buy” rating in a report on Monday, October 8th. BidaskClub downgraded Limelight Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 31st. TheStreet downgraded Limelight Networks from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. ValuEngine downgraded Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Raymond James upgraded Limelight Networks from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Limelight Networks currently has an average rating of “Hold” and a consensus target price of $6.25.

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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.

Read More: Capital Gains

Want to see what other hedge funds are holding LLNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Limelight Networks, Inc. (NASDAQ:LLNW).

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

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