Limelight Networks, Inc. (LLNW) Position Boosted by JPMorgan Chase & Co.

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JPMorgan Chase & Co. boosted its holdings in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 42.6% in the third quarter, HoldingsChannel.com reports. The fund owned 2,787,660 shares of the information services provider’s stock after acquiring an additional 832,689 shares during the quarter. JPMorgan Chase & Co.’s holdings in Limelight Networks were worth $13,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio boosted its holdings in Limelight Networks by 8.0% during the 2nd quarter. Strs Ohio now owns 160,700 shares of the information services provider’s stock valued at $718,000 after acquiring an additional 11,900 shares during the period. United Services Automobile Association boosted its holdings in Limelight Networks by 38.6% during the 2nd quarter. United Services Automobile Association now owns 1,767,744 shares of the information services provider’s stock valued at $7,902,000 after acquiring an additional 492,658 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Limelight Networks by 94.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 100,268 shares of the information services provider’s stock valued at $448,000 after acquiring an additional 48,645 shares during the period. Federated Investors Inc. PA boosted its holdings in Limelight Networks by 175.3% during the 2nd quarter. Federated Investors Inc. PA now owns 1,656,448 shares of the information services provider’s stock valued at $7,404,000 after acquiring an additional 1,054,673 shares during the period. Finally, Millennium Management LLC boosted its holdings in Limelight Networks by 71.1% during the 2nd quarter. Millennium Management LLC now owns 2,184,117 shares of the information services provider’s stock valued at $9,763,000 after acquiring an additional 907,881 shares during the period. Institutional investors own 73.99% of the company’s stock.

LLNW has been the subject of a number of recent analyst reports. BidaskClub cut Limelight Networks from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. ValuEngine cut Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. TheStreet cut Limelight Networks from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. DA Davidson set a $7.00 price objective on Limelight Networks and gave the company a “buy” rating in a report on Monday, October 8th. Finally, Craig Hallum began coverage on Limelight Networks in a report on Monday, August 27th. They set a “buy” rating and a $6.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Limelight Networks has a consensus rating of “Hold” and a consensus price target of $6.21.

Shares of LLNW stock opened at $3.14 on Friday. Limelight Networks, Inc. has a twelve month low of $3.12 and a twelve month high of $5.52. The firm has a market capitalization of $367.91 million, a price-to-earnings ratio of 108.33, a PEG ratio of 7.22 and a beta of 2.42.

Limelight Networks (NASDAQ:LLNW) last issued its earnings results on Thursday, October 18th. The information services provider reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Limelight Networks had a return on equity of 2.32% and a net margin of 7.07%. The business had revenue of $49.32 million during the quarter, compared to analysts’ expectations of $49.01 million. During the same period in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Limelight Networks, Inc. will post 0.03 earnings per share for the current fiscal year.

In other news, CEO Robert A. Lento sold 40,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $4.02, for a total value of $160,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurt Silverman sold 7,500 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $5.00, for a total value of $37,500.00. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock valued at $433,400 over the last quarter. Company insiders own 10.60% of the company’s stock.

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Limelight Networks Company Profile

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

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Want to see what other hedge funds are holding LLNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Limelight Networks, Inc. (NASDAQ:LLNW).

Institutional Ownership by Quarter for Limelight Networks (NASDAQ:LLNW)

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