Equitable Trust Co. Acquires 22,280 Shares of Perion Network Ltd (NASDAQ:PERI)

Equitable Trust Co. increased its holdings in shares of Perion Network Ltd (NASDAQ:PERI) by 34.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,900 shares of the technology company’s stock after purchasing an additional 22,280 shares during the quarter. Equitable Trust Co.’s holdings in Perion Network were worth $716,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of PERI. Russell Investments Group Ltd. bought a new stake in Perion Network during the 4th quarter worth approximately $41,000. Perritt Capital Management Inc acquired a new position in Perion Network during the 4th quarter worth approximately $127,000. State of Wyoming boosted its position in Perion Network by 217.2% during the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after acquiring an additional 13,472 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Perion Network by 56.4% during the 4th quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company’s stock worth $225,000 after acquiring an additional 9,589 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in Perion Network by 8.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock worth $294,000 after acquiring an additional 2,711 shares during the last quarter. 68.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PERI shares. Wall Street Zen raised Perion Network from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Roth Mkm raised Perion Network from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.00 to $14.00 in a research report on Wednesday, May 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research report on Wednesday, May 14th. Roth Capital set a $14.00 price target on Perion Network in a research report on Wednesday, May 14th. Finally, Lake Street Capital upped their price target on Perion Network from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.38.

Perion Network Trading Down 1.0%

NASDAQ PERI opened at $11.05 on Friday. The company has a market cap of $495.37 million, a PE ratio of -65.00, a PEG ratio of 1.08 and a beta of 1.44. Perion Network Ltd has a 12 month low of $6.99 and a 12 month high of $11.79. The stock has a 50 day moving average of $10.55 and a 200-day moving average of $9.40.

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.