Michael Vorhaus Sells 2,160 Shares of Perion Network (NASDAQ:PERI) Stock

Perion Network Ltd (NASDAQ:PERI) Director Michael Vorhaus sold 2,160 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.70, for a total transaction of $20,952.00. Following the completion of the sale, the director owned 24,613 shares of the company’s stock, valued at approximately $238,746.10. This trade represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Trading Down 1.5%

Shares of PERI traded down $0.14 during midday trading on Thursday, hitting $9.44. 162,211 shares of the company’s stock traded hands, compared to its average volume of 424,659. Perion Network Ltd has a 1 year low of $7.63 and a 1 year high of $11.44. The firm’s fifty day moving average is $9.34 and its 200-day moving average is $9.32. The stock has a market capitalization 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.

Perion Network (NASDAQ:PERI) last announced its earnings results on Thursday, May 21st. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $90.40 million for the quarter, compared to the consensus estimate of $91.74 million. On average, equities research analysts anticipate that Perion Network Ltd will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Perion Network

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Private Capital Management LLC raised its position in Perion Network by 16.8% during the 3rd quarter. Private Capital Management LLC now owns 3,751,278 shares of the technology company’s stock worth $36,012,000 after buying an additional 538,375 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Perion Network in the 1st quarter valued at $1,568,000. Stableford Capital II LLC boosted its holdings in shares of Perion Network by 173.5% in the 4th quarter. Stableford Capital II LLC now owns 215,960 shares of the technology company’s stock valued at $2,069,000 after acquiring an additional 136,999 shares during the last quarter. Tripletail Wealth Management LLC increased its stake in shares of Perion Network by 1,066.7% in the fourth quarter. Tripletail Wealth Management LLC now owns 113,520 shares of the technology company’s stock worth $1,088,000 after acquiring an additional 103,790 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Perion Network by 165.8% in the second 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 period. Institutional investors and hedge funds own 68.12% of the company’s stock.

Analysts Set New Price Targets

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