Perion Network Ltd. (NASDAQ:PERI) Shares Sold by Sphera Funds Management LTD.

Sphera Funds Management LTD. reduced its position in shares of Perion Network Ltd. (NASDAQ:PERI) by 56.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,612 shares of the technology company’s stock after selling 131,997 shares during the period. Sphera Funds Management LTD. owned about 0.21% of Perion Network worth $869,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Perkins Capital Management Inc. lifted its position in shares of Perion Network by 4.2% during the fourth quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company’s stock worth $470,000 after purchasing an additional 2,240 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Perion Network by 8.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock valued at $294,000 after acquiring an additional 2,711 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Perion Network in the fourth quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new stake in Perion Network in the fourth quarter valued at $45,000. Finally, Point72 Asset Management L.P. raised its holdings in Perion Network by 56.4% in the fourth quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company’s stock valued at $225,000 after acquiring an additional 9,589 shares in the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PERI has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Wednesday. Lake Street Capital boosted their target price on shares of Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $14.00 in a research note on Wednesday. Roth Capital set a $14.00 target price on shares of Perion Network in a research note on Wednesday. Finally, StockNews.com lowered shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.13.

Perion Network Price Performance

PERI stock opened at $10.81 on Friday. Perion Network Ltd. has a 1-year low of $7.00 and a 1-year high of $12.74. The firm has a fifty day moving average price of $8.66 and a two-hundred day moving average price of $8.72. The firm has a market cap of $484.56 million, a price-to-earnings ratio of 41.58, a PEG ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. As a group, analysts expect that Perion Network Ltd. will post 0.51 EPS for the current fiscal year.

Perion Network Company Profile

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.