Meitav Investment House Ltd. lessened its stake in shares of Perion Network Ltd (NASDAQ:PERI – Free Report) by 91.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,067 shares of the technology company’s stock after selling 257,634 shares during the quarter. Meitav Investment House Ltd. owned about 0.06% of Perion Network worth $240,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Perkins Capital Management Inc. boosted its holdings in Perion Network by 13.4% in the first quarter. Perkins Capital Management Inc. now owns 156,865 shares of the technology company’s stock worth $1,567,000 after acquiring an additional 18,490 shares in the last quarter. North Star Investment Management Corp. bought a new stake in shares of Perion Network during the first quarter valued at approximately $649,000. SG Americas Securities LLC raised its position in shares of Perion Network by 21.9% during the first quarter. SG Americas Securities LLC now owns 12,190 shares of the technology company’s stock worth $122,000 after purchasing an additional 2,186 shares during the period. XTX Topco Ltd raised its position in shares of Perion Network by 210.7% during the fourth quarter. XTX Topco Ltd now owns 97,437 shares of the technology company’s stock worth $933,000 after purchasing an additional 66,081 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Perion Network in the 4th quarter worth $134,000. 68.12% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on PERI. Canaccord Genuity Group began coverage on shares of Perion Network in a research note on Friday, March 20th. They set a “buy” rating and a $14.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research note on Tuesday, May 26th. Finally, Lake Street Capital set a $13.00 target price on shares of Perion Network and gave the stock a “buy” rating in a research report on Thursday, May 21st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.88.
Insider Buying and Selling
In other news, Director Eyal Kaplan sold 2,916 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.77, for a total value of $28,489.32. Following the completion of the transaction, the director directly owned 54,142 shares of the company’s stock, valued at $528,967.34. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 6,765 shares of company stock valued at $65,943. Company insiders own 2.78% of the company’s stock.
Perion Network Trading Down 0.8%
NASDAQ PERI opened at $9.20 on Wednesday. The business has a fifty day simple moving average of $9.24 and a 200 day simple moving average of $9.31. Perion Network Ltd has a 12 month low of $7.63 and a 12 month high of $11.44. The firm has a market capitalization of $359.03 million, a P/E ratio of -36.80, a PEG ratio of 1.28 and a beta of 1.17.
Perion Network (NASDAQ:PERI – Get Free Report) last posted its earnings results on Thursday, May 21st. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Perion Network had a negative net margin of 2.17% and a positive return on equity of 3.34%. The firm had revenue of $90.40 million during the quarter, compared to analyst estimates of $91.74 million. As a group, sell-side analysts predict that Perion Network Ltd will post 0.38 EPS for the current fiscal year.
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.
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