Perion Network Ltd. (NASDAQ:PERI) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in Perion Network Ltd. (NASDAQ:PERI) by 39.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,667 shares of the technology company’s stock after purchasing an additional 107,278 shares during the period. JPMorgan Chase & Co. owned approximately 0.79% of Perion Network worth $2,984,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PERI. Clearline Capital LP acquired a new position in Perion Network during the third quarter valued at approximately $2,221,000. Squarepoint Ops LLC raised its stake in shares of Perion Network by 997.5% in the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock valued at $1,117,000 after acquiring an additional 121,622 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of Perion Network during the 2nd quarter valued at $696,000. Public Employees Retirement System of Ohio purchased a new stake in Perion Network during the 3rd quarter worth $658,000. Finally, Petrus Trust Company LTA increased its holdings in Perion Network by 363.0% in the 3rd quarter. Petrus Trust Company LTA now owns 100,324 shares of the technology company’s stock valued at $791,000 after purchasing an additional 78,656 shares in the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Wall Street Analyst Weigh In

PERI has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Stifel Nicolaus reduced their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Monday, October 14th. 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.com, the company currently has an average rating of “Hold” and a consensus price target of $12.13.

Perion Network Stock Down 0.3 %

PERI stock opened at $8.87 on Monday. The stock’s 50 day moving average is $8.66 and its two-hundred day moving average is $8.42. Perion Network Ltd. has a 52-week low of $7.47 and a 52-week high of $31.38. The company has a market capitalization of $426.91 million, a PE ratio of 9.54, a P/E/G ratio of 0.77 and a beta of 1.46.

Perion Network 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.