Perion Network (NASDAQ:PERI) Director Sells $28,489.32 in Stock

Perion Network Ltd (NASDAQ:PERI) Director Eyal Kaplan sold 2,916 shares of Perion Network stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.77, for a total value of $28,489.32. Following the transaction, the director owned 54,142 shares of the company’s stock, valued at $528,967.34. The trade was a 5.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Price Performance

NASDAQ PERI traded down $0.14 during trading on Thursday, reaching $9.44. 162,211 shares of the company’s stock were exchanged, compared to its average volume of 424,659. The business has a 50 day moving average price of $9.34 and a 200-day moving average price of $9.32. The stock has a market capitalization of $368.25 million, a P/E ratio of -37.86, a PEG ratio of 1.34 and a beta of 1.17. Perion Network Ltd has a fifty-two week low of $7.63 and a fifty-two week high of $11.44.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Thursday, May 21st. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Perion Network had a positive return on equity of 3.34% and a negative net margin of 2.17%.The company had revenue of $90.40 million during the quarter, compared to analysts’ expectations of $91.74 million. On average, analysts forecast that Perion Network Ltd will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Lake Street Capital set a $13.00 price objective on shares of Perion Network and gave the company a “buy” rating in a report on Thursday, May 21st. Canaccord Genuity Group initiated coverage on shares of Perion Network in a research note on Friday, March 20th. They set a “buy” rating and a $14.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Perion Network has an average rating of “Moderate Buy” and an average target price of $13.88.

Institutional Trading of Perion Network

Hedge funds have recently added to or reduced their stakes in the company. Private Capital Management LLC boosted its stake in Perion Network by 16.8% in the 3rd quarter. Private Capital Management LLC now owns 3,751,278 shares of the technology company’s stock valued at $36,012,000 after purchasing an additional 538,375 shares during the period. Vanguard Group Inc. increased its position in Perion Network by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,713,232 shares of the technology company’s stock worth $16,558,000 after buying an additional 14,563 shares during the period. Systematic Financial Management LP increased its position in Perion Network by 5.9% during the 1st quarter. Systematic Financial Management LP now owns 869,066 shares of the technology company’s stock worth $8,689,000 after buying an additional 48,246 shares during the period. CastleKnight Management LP lifted its holdings in shares of Perion Network by 13.8% during the fourth quarter. CastleKnight Management LP now owns 479,020 shares of the technology company’s stock worth $4,589,000 after buying an additional 58,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Perion Network by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock worth $2,798,000 after buying an additional 64,442 shares in the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

About Perion Network

Perion Network Ltd. (NASDAQ: PERI) is a digital advertising technology company that offers a suite of solutions designed for both brand marketers and performance-driven advertisers. The firm’s platform integrates search monetization, programmatic display, video and connected TV (CTV) advertising to help clients reach and engage audiences across desktop, mobile and television environments. Through proprietary algorithms and AI-driven tools, Perion’s technology optimizes ad placements in real time, aiming to boost campaign efficiency and return on investment for publishers and advertisers alike.

Key offerings include search engine marketing services that cover major platforms such as Google and Bing, native and display advertising solutions under its Undertone brand, as well as social and video ad formats.