State Street Corp Sells 42,768 Shares of Perion Network Ltd. (NASDAQ:PERI)

State Street Corp trimmed its stake in shares of Perion Network Ltd. (NASDAQ:PERI) by 45.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,461 shares of the technology company’s stock after selling 42,768 shares during the quarter. State Street Corp owned approximately 0.11% of Perion Network worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Squarepoint Ops LLC raised its holdings in Perion Network by 997.5% during the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 121,622 shares during the last quarter. Y.D. More Investments Ltd boosted its position in Perion Network by 580.4% during 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 acquiring an additional 225,520 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Perion Network by 436.2% in the 3rd quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock worth $603,000 after acquiring an additional 62,204 shares in the last quarter. PDT Partners LLC lifted its stake in shares of Perion Network by 58.8% in the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock valued at $1,382,000 after purchasing an additional 64,936 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in Perion Network during the second quarter worth approximately $696,000. 68.12% of the stock is owned by institutional investors and hedge funds.

Perion Network Stock Up 3.8 %

Shares of Perion Network stock opened at $9.02 on Friday. Perion Network Ltd. has a 52 week low of $7.47 and a 52 week high of $31.38. The business has a 50 day moving average price of $8.61 and a 200-day moving average price of $8.41. The company has a market cap of $434.11 million, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Analysts Set New Price Targets

PERI has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Perion Network currently has a consensus rating of “Hold” and a consensus price target of $12.13.

About Perion Network

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.