Lazard Asset Management LLC Purchases Shares of 156,968 Perion Network Ltd $PERI

Lazard Asset Management LLC acquired a new position in shares of Perion Network Ltd (NASDAQ:PERI) in the 1st quarter, HoldingsChannel reports. The firm acquired 156,968 shares of the technology company’s stock, valued at approximately $1,568,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Capital Management LLC raised its position in Perion Network by 16.8% in the 3rd quarter. Private Capital Management LLC now owns 3,751,278 shares of the technology company’s stock valued at $36,012,000 after purchasing an additional 538,375 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Perion Network by 0.9% during the third quarter. Vanguard Group Inc. now owns 1,713,232 shares of the technology company’s stock worth $16,558,000 after purchasing an additional 14,563 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of Perion Network by 5.9% in the first quarter. Systematic Financial Management LP now owns 869,066 shares of the technology company’s stock valued at $8,689,000 after buying an additional 48,246 shares in the last quarter. CastleKnight Management LP increased its stake in shares of Perion Network by 13.8% in the fourth quarter. CastleKnight Management LP now owns 479,020 shares of the technology company’s stock valued at $4,589,000 after buying an additional 58,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Perion Network by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock valued at $2,798,000 after buying an additional 64,442 shares during the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PERI shares. Lake Street Capital set a $13.00 price objective on shares of Perion Network and gave the stock a “buy” rating in a report on Thursday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.88.

Insider Activity at Perion Network

In related news, Director Eyal Kaplan sold 2,916 shares of the company’s stock in a transaction dated 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 sale, the director owned 54,142 shares in the company, valued at approximately $528,967.34. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,765 shares of company stock worth $65,943 over the last ninety days. 2.78% of the stock is owned by insiders.

Perion Network Price Performance

Shares of NASDAQ:PERI opened at $9.81 on Wednesday. The stock has a market cap of $382.88 million, a price-to-earnings ratio of -39.24, a P/E/G ratio of 1.35 and a beta of 1.18. The company has a 50 day moving average of $8.98 and a 200-day moving average of $9.29. Perion Network Ltd has a one year low of $7.63 and a one year high of $11.27.

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

Perion Network Company Profile

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.