Perion Network (NASDAQ:PERI) Director Eyal Kaplan Sells 2,916 Shares of Stock

Perion Network Ltd (NASDAQ:PERI) Director Eyal Kaplan sold 2,916 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $8.72, for a total transaction of $25,427.52. Following the sale, the director owned 51,226 shares of the company’s stock, valued at approximately $446,690.72. This represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Stock Performance

Perion Network stock opened at $8.51 on Tuesday. Perion Network Ltd has a twelve month low of $7.63 and a twelve month high of $11.27. The firm has a market cap of $332.15 million, a PE ratio of -24.31, a P/E/G ratio of 0.99 and a beta of 1.13. The firm’s 50 day moving average price is $9.28 and its two-hundred day moving average price is $9.42.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Tuesday, August 11th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $98.24 million during the quarter, compared to analyst estimates of $96.72 million. Perion Network had a positive return on equity of 2.43% and a negative net margin of 2.95%. Equities analysts anticipate that Perion Network Ltd will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of hedge funds and other institutional investors have recently bought and sold shares of PERI. Headlands Technologies LLC raised its position in Perion Network by 282.5% in the 2nd quarter. Headlands Technologies LLC now owns 39,577 shares of the technology company’s stock valued at $384,000 after purchasing an additional 29,231 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Perion Network in the second quarter valued at $532,000. Bank of America Corp DE increased its stake in shares of Perion Network by 101.3% in the first quarter. Bank of America Corp DE now owns 24,480 shares of the technology company’s stock valued at $245,000 after buying an additional 12,317 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Perion Network by 698.9% in the first quarter. Royal Bank of Canada now owns 10,170 shares of the technology company’s stock valued at $102,000 after buying an additional 8,897 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Perion Network in the first quarter valued at about $1,568,000. 68.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.88.

About Perion Network

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.