Perion Network (NASDAQ:PERI) Director Sells $20,952.00 in Stock

Perion Network Ltd (NASDAQ:PERI) Director Michael Vorhaus sold 2,160 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.70, for a total value of $20,952.00. Following the completion of the sale, the director directly owned 24,613 shares in the company, valued at approximately $238,746.10. This trade represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Price Performance

Shares of PERI opened at $9.40 on Friday. The company has a market cap of $366.88 million, a P/E ratio of -37.60, a PEG ratio of 1.30 and a beta of 1.17. The stock has a fifty day moving average price of $9.28 and a 200 day moving average price of $9.32. Perion Network Ltd has a 12 month low of $7.63 and a 12 month high of $11.44.

Perion Network (NASDAQ:PERI) last issued its earnings results on Thursday, May 21st. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $90.40 million for the quarter, compared to analyst estimates of $91.74 million. Perion Network had a positive return on equity of 3.34% and a negative net margin of 2.17%. As a group, research analysts anticipate that Perion Network Ltd will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Canaccord Genuity Group started coverage on shares of Perion Network in a research note on Friday, March 20th. They set a “buy” rating and a $14.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Tuesday, May 26th. Finally, Lake Street Capital set a $13.00 price target on Perion Network and gave the company a “buy” rating in a report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.88.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of Perion Network by 101.3% during the first quarter. Bank of America Corp DE now owns 24,480 shares of the technology company’s stock valued at $245,000 after purchasing an additional 12,317 shares in the last quarter. Royal Bank of Canada grew its position in Perion Network by 698.9% in the 1st 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 in the last quarter. Lazard Asset Management LLC acquired a new position in Perion Network during the 1st quarter valued at about $1,568,000. Systematic Financial Management LP raised its position in shares of Perion Network by 5.9% during the 1st quarter. Systematic Financial Management LP now owns 869,066 shares of the technology company’s stock worth $8,689,000 after buying an additional 48,246 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Perion Network by 100.2% in the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock worth $1,664,000 after acquiring an additional 83,359 shares during the period. 68.12% of the stock is owned by institutional investors and hedge funds.

About Perion Network

Perion Network Ltd. (NASDAQ: PERI) is a digital advertising technology company that offers a suite of solutions designed for both brand marketers and performance-driven advertisers. The firm’s platform integrates search monetization, programmatic display, video and connected TV (CTV) advertising to help clients reach and engage audiences across desktop, mobile and television environments. Through proprietary algorithms and AI-driven tools, Perion’s technology optimizes ad placements in real time, aiming to boost campaign efficiency and return on investment for publishers and advertisers alike.

Key offerings include search engine marketing services that cover major platforms such as Google and Bing, native and display advertising solutions under its Undertone brand, as well as social and video ad formats.