Insider Selling: Limelight Networks, Inc. (NASDAQ:LLNW) SVP Sells $26,525.97 in Stock

Limelight Networks, Inc. (NASDAQ:LLNW) SVP Thomas Marth sold 4,399 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $6.03, for a total value of $26,525.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Thomas Marth also recently made the following trade(s):

  • On Wednesday, July 1st, Thomas Marth sold 10,080 shares of Limelight Networks stock. The stock was sold at an average price of $7.32, for a total value of $73,785.60.

Limelight Networks stock opened at $5.68 on Friday. Limelight Networks, Inc. has a 1-year low of $2.78 and a 1-year high of $8.19. The stock has a market cap of $693.37 million, a PE ratio of -113.60 and a beta of 0.60. The stock’s fifty day moving average is $5.80 and its two-hundred day moving average is $5.75.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Monday, July 20th. The information services provider reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Limelight Networks had a negative return on equity of 4.42% and a negative net margin of 3.21%. The company had revenue of $58.55 million for the quarter, compared to analysts’ expectations of $56.72 million. During the same period last year, the firm earned ($0.03) earnings per share. Limelight Networks’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, analysts anticipate that Limelight Networks, Inc. will post -0.07 earnings per share for the current year.

A number of research analysts have commented on LLNW shares. Raymond James upped their price target on Limelight Networks from $6.00 to $8.50 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Truist began coverage on Limelight Networks in a research note on Friday, September 18th. They issued a “buy” rating and a $9.00 price objective on the stock. Zacks Investment Research cut Limelight Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Oppenheimer increased their price objective on Limelight Networks from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Finally, ValuEngine cut Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Limelight Networks presently has a consensus rating of “Buy” and an average price target of $7.98.

Institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in Limelight Networks in the second quarter valued at $52,000. Advisor Group Holdings Inc. acquired a new stake in Limelight Networks in the first quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Limelight Networks by 57.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,691 shares of the information services provider’s stock worth $71,000 after purchasing an additional 3,551 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Limelight Networks during the second quarter worth about $77,000. Finally, Paloma Partners Management Co purchased a new position in shares of Limelight Networks during the first quarter worth about $68,000. Institutional investors own 79.10% of the company’s stock.

Limelight Networks Company Profile

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, social, and other digital initiatives.

Further Reading: Why do company’s buyback their stock?

Insider Buying and Selling by Quarter for Limelight Networks (NASDAQ:LLNW)

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