State of New Jersey Common Pension Fund D Decreases Stock Holdings in Perion Network Ltd. (NASDAQ:PERI)

State of New Jersey Common Pension Fund D reduced its stake in shares of Perion Network Ltd. (NASDAQ:PERI) by 35.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,734 shares of the technology company’s stock after selling 16,292 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Perion Network worth $234,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Perion Network by 43.5% during the second quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock worth $14,367,000 after purchasing an additional 522,424 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Perion Network by 2.4% in the first quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock valued at $33,387,000 after buying an additional 35,476 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Perion Network by 4.4% in the second quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock valued at $11,136,000 after buying an additional 55,745 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Perion Network by 580.4% in the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after purchasing an additional 225,520 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in Perion Network by 24.2% in the third quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock valued at $1,880,000 after purchasing an additional 46,542 shares during the period. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a report on Monday, October 14th. Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.13.

Perion Network Trading Down 1.3 %

NASDAQ PERI opened at $8.41 on Wednesday. The business’s 50 day moving average is $8.18 and its two-hundred day moving average is $9.04. The stock has a market capitalization of $397.88 million, a price-to-earnings ratio of 9.04, a PEG ratio of 0.42 and a beta of 1.47. Perion Network Ltd. has a 12-month low of $7.47 and a 12-month high of $32.99.

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.