Meitav Investment House Ltd. Decreases Holdings in Perion Network Ltd $PERI

Meitav Investment House Ltd. trimmed its stake in Perion Network Ltd (NASDAQ:PERI) by 91.5% during the first quarter, Holdings Channel reports. The fund owned 24,067 shares of the technology company’s stock after selling 257,634 shares during the period. Meitav Investment House Ltd.’s holdings in Perion Network were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of PERI. NewEdge Advisors LLC bought a new position in Perion Network during the first quarter valued at $160,000. Goldman Sachs Group Inc. grew its stake in shares of Perion Network by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock worth $2,798,000 after acquiring an additional 64,442 shares during the period. JPMorgan Chase & Co. increased its holdings in Perion Network by 165.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 162,617 shares of the technology company’s stock worth $1,651,000 after acquiring an additional 101,446 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Perion Network during the second quarter valued at about $370,000. Finally, Jump Financial LLC boosted its position in Perion Network by 38.8% during the second quarter. Jump Financial LLC now owns 81,498 shares of the technology company’s stock worth $827,000 after purchasing an additional 22,789 shares during the period. Institutional investors own 68.12% of the company’s stock.

Insider Activity

In other news, Director Eyal Kaplan sold 2,916 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.77, for a total value of $28,489.32. Following the completion of the sale, the director owned 54,142 shares of the company’s stock, valued at approximately $528,967.34. This represents a 5.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 6,765 shares of company stock valued at $65,943. 2.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PERI has been the topic of several research reports. Canaccord Genuity Group began coverage on shares of Perion Network in a research report on Friday, March 20th. They issued a “buy” rating and a $14.00 price target 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 research note on Thursday, May 21st. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.88.

Perion Network Trading Down 0.8%

PERI opened at $9.20 on Wednesday. The stock has a 50-day moving average price of $9.24 and a 200-day moving average price of $9.31. Perion Network Ltd has a 12-month low of $7.63 and a 12-month high of $11.44. The stock has a market capitalization of $359.03 million, a P/E ratio of -36.80, a PEG ratio of 1.28 and a beta of 1.17.

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

Perion Network Profile

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.