Truist Financial Corp reduced its holdings in Perion Network Ltd. (NASDAQ:PERI – Free Report) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,954 shares of the technology company’s stock after selling 1,665 shares during the quarter. Truist Financial Corp’s holdings in Perion Network were worth $215,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Perion Network by 11.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,319,354 shares of the technology company’s stock worth $102,468,000 after buying an additional 346,610 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Perion Network by 14.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company’s stock worth $81,199,000 after acquiring an additional 330,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Perion Network by 12.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company’s stock worth $70,971,000 after acquiring an additional 260,000 shares during the period. Vanguard Group Inc. lifted its position in Perion Network by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock valued at $43,960,000 after acquiring an additional 26,181 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its stake in Perion Network by 6.1% in the 4th quarter. Meitav Investment House Ltd. now owns 1,059,894 shares of the technology company’s stock worth $32,684,000 after purchasing an additional 61,040 shares during the period. Institutional investors and hedge funds own 68.12% of the company’s stock.
Perion Network Stock Performance
Shares of NASDAQ:PERI opened at $11.81 on Wednesday. The company has a 50-day simple moving average of $15.76 and a 200 day simple moving average of $23.40. The company has a market capitalization of $566.76 million, a P/E ratio of 5.62, a price-to-earnings-growth ratio of 0.41 and a beta of 1.37. Perion Network Ltd. has a 52-week low of $10.77 and a 52-week high of $36.86.
Analyst Ratings Changes
A number of brokerages have recently commented on PERI. StockNews.com lowered Perion Network from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. Lake Street Capital restated a “hold” rating and set a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Perion Network in a research report on Thursday, May 9th. Finally, Roth Mkm reiterated a “neutral” rating and set a $13.00 target price (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.80.
View Our Latest Stock Analysis on Perion Network
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.
Further Reading
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Source: defenseworld.net
