ARK Investment Management LLC Sells 14,834 Shares of Perion Network Ltd. (NASDAQ:PERI)

ARK Investment Management LLC decreased its stake in shares of Perion Network Ltd. (NASDAQ:PERI) by 6.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 223,710 shares of the technology company’s stock after selling 14,834 shares during the period. ARK Investment Management LLC owned 0.46% of Perion Network worth $1,895,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearline Capital LP bought a new stake in shares of Perion Network during the third quarter worth approximately $2,221,000. JPMorgan Chase & Co. lifted its holdings in Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after purchasing an additional 107,278 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Perion Network in the 3rd quarter valued at $658,000. Petrus Trust Company LTA grew 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 buying an additional 78,656 shares in the last quarter. Finally, PDT Partners LLC increased its position in Perion Network by 58.8% during the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after buying an additional 64,936 shares during the period. Institutional investors and hedge funds own 68.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $10.50 price target (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.25.

Perion Network Trading Up 0.1 %

Shares of NASDAQ:PERI opened at $8.58 on Thursday. The firm has a 50 day moving average of $8.89 and a 200-day moving average of $8.56. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $23.74. The stock has a market capitalization of $384.60 million, a PE ratio of 33.00, a PEG ratio of 0.76 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $129.58 million for the quarter, compared to analyst estimates of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, research analysts predict that Perion Network Ltd. will post 0.51 EPS for the current fiscal year.

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.