Perion Network (NASDAQ:PERI) Stock: Insider Joy Sharon Marcus Sells 1,690 Shares

Perion Network Ltd (NASDAQ:PERI) Director Joy Marcus sold 1,690 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $8.71, for a total transaction of $14,719.90. Following the completion of the transaction, the director directly owned 27,570 shares of the company’s stock, valued at approximately $240,134.70. The trade was a 5.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Stock Performance

Shares of PERI stock opened at $8.55 on Wednesday. The stock has a market capitalization of $333.71 million, a P/E ratio of -24.43, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The company has a 50 day moving average price of $9.26 and a 200 day moving average price of $9.42. Perion Network Ltd has a fifty-two week low of $7.63 and a fifty-two week high of $11.27.

Perion Network (NASDAQ:PERI) last released its earnings results on Tuesday, August 11th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Perion Network had a negative net margin of 2.95% and a positive return on equity of 2.43%. The company had revenue of $98.24 million for the quarter, compared to analyst estimates of $96.72 million. On average, research analysts forecast that Perion Network Ltd will post 0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Perion Network has a consensus rating of “Moderate Buy” and an average target price of $13.88.

Institutional Trading of Perion Network

A number of institutional investors have recently bought and sold shares of PERI. Lazard Asset Management LLC acquired a new position in shares of Perion Network during the 1st quarter worth about $1,568,000. Sei Investments Co. raised its position in shares of Perion Network by 100.2% during the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock worth $1,664,000 after acquiring an additional 83,359 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in Perion Network during the first quarter worth approximately $649,000. Headlands Technologies LLC lifted its stake in Perion Network by 282.5% during the second quarter. Headlands Technologies LLC now owns 39,577 shares of the technology company’s stock worth $384,000 after purchasing an additional 29,231 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Perion Network in the second quarter valued at approximately $532,000. 68.12% of the stock is owned by hedge funds and other institutional investors.

Perion Network Company Profile

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.