Insider Selling: Perion Network (NASDAQ:PERI) Director Sells 1,689 Shares of Stock

Perion Network Ltd (NASDAQ:PERI) Director Joy Sharon Marcus sold 1,689 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.77, for a total transaction of $16,501.53. Following the completion of the transaction, the director owned 29,260 shares of the company’s stock, valued at approximately $285,870.20. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Trading Down 1.5%

PERI traded down $0.14 on Thursday, hitting $9.44. 162,211 shares of the company were exchanged, compared to its average volume of 424,659. Perion Network Ltd has a twelve month low of $7.63 and a twelve month high of $11.44. The company has a market cap of $368.25 million, a price-to-earnings ratio of -37.74, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17. The firm has a 50-day moving average price of $9.34 and a two-hundred day moving average price of $9.32.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results 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. The company had revenue of $90.40 million for the quarter, compared to analyst estimates of $91.74 million. Perion Network had a positive return on equity of 3.34% and a negative net margin of 2.17%. Equities analysts expect that Perion Network Ltd will post 0.38 EPS for the current year.

Institutional Investors Weigh In On Perion Network

Several hedge funds and other institutional investors have recently made changes to their positions in PERI. NewEdge Advisors LLC acquired a new position in Perion Network in the first quarter valued at approximately $160,000. Goldman Sachs Group Inc. raised its holdings in 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 purchasing an additional 64,442 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Perion Network by 165.8% during the second quarter. JPMorgan Chase & Co. now owns 162,617 shares of the technology company’s stock worth $1,651,000 after purchasing an additional 101,446 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Perion Network during the 2nd quarter worth approximately $370,000. Finally, Jump Financial LLC lifted its position in shares of Perion Network by 38.8% during the 2nd quarter. Jump Financial LLC now owns 81,498 shares of the technology company’s stock worth $827,000 after buying an additional 22,789 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PERI. Lake Street Capital set a $13.00 price target on shares of Perion Network and gave the stock a “buy” rating in a research note on Thursday, May 21st. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Tuesday, May 26th. Finally, Canaccord Genuity Group began coverage on shares of Perion Network in a research report on Friday, March 20th. They set a “buy” rating and a $14.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.88.

Perion Network Company 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.