Geode Capital Management LLC Has $457,000 Stake in Perion Network Ltd. (NASDAQ:PERI)

Geode Capital Management LLC raised its holdings in Perion Network Ltd. (NASDAQ:PERI) by 67.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,975 shares of the technology company’s stock after buying an additional 23,423 shares during the period. Geode Capital Management LLC owned 0.12% of Perion Network worth $457,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Sei Investments Co. raised its holdings in Perion Network by 9.4% during the second quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock worth $496,000 after acquiring an additional 5,078 shares in the last quarter. Equitable Trust Co. grew its stake in shares of Perion Network by 19.1% in the third quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock valued at $518,000 after buying an additional 10,535 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Perion Network by 38.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 46,026 shares of the technology company’s stock worth $384,000 after buying an additional 12,875 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Perion Network during the third quarter worth $134,000. Finally, Hsbc Holdings PLC acquired a new stake in Perion Network in the second quarter valued at $157,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Perion Network Stock Down 1.1 %

Perion Network stock opened at $8.60 on Monday. The company’s 50-day moving average price is $8.66 and its two-hundred day moving average price is $8.41. The stock has a market cap of $413.89 million, a P/E ratio of 9.25, a P/E/G ratio of 0.45 and a beta of 1.46. Perion Network Ltd. has a twelve month low of $7.47 and a twelve month high of $31.38.

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.