Eric Armstrong Sells 9,212 Shares of Limelight Networks, Inc. (NASDAQ:LLNW) Stock

Posted by on Jun 2nd, 2022

Limelight Networks, Inc. (NASDAQ:LLNW – Get Rating) SVP Eric Armstrong sold 9,212 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $3.62, for a total transaction of $33,347.44. Following the transaction, the senior vice president now owns 137,112 shares of the company’s stock, valued at $496,345.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Limelight Networks stock traded down $0.56 during trading hours on Thursday, reaching $2.92. 6,689,487 shares of the company’s stock were exchanged, compared to its average volume of 2,075,335. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.90. The firm’s 50 day simple moving average is $4.27 and its 200 day simple moving average is $3.92. Limelight Networks, Inc. has a twelve month low of $2.30 and a twelve month high of $5.55. The firm has a market capitalization of $403.53 million, a PE ratio of -7.90 and a beta of 0.83.

Limelight Networks (NASDAQ:LLNW – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $58.00 million for the quarter, compared to analysts’ expectations of $56.15 million. Limelight Networks had a negative net margin of 22.60% and a negative return on equity of 24.22%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) EPS. Analysts anticipate that Limelight Networks, Inc. will post -0.2 EPS for the current year.

LLNW has been the subject of several research analyst reports. StockNews.com downgraded shares of Limelight Networks from a “hold” rating to a “sell” rating in a report on Monday, May 23rd. Raymond James increased their price objective on Limelight Networks from $5.00 to $8.00 and gave the company a “strong-buy” rating in a report on Friday, March 11th. Cowen upgraded Limelight Networks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $4.00 to $6.00 in a report on Thursday, March 17th. Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Tuesday. Finally, Northland Securities upgraded Limelight Networks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $6.50 in a report on Tuesday, March 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $5.34.

Several hedge funds have recently added to or reduced their stakes in LLNW. Bank of New York Mellon Corp boosted its position in shares of Limelight Networks by 196.7% during the 1st quarter. Bank of New York Mellon Corp now owns 6,728,751 shares of the information services provider’s stock worth $35,124,000 after purchasing an additional 4,460,751 shares in the last quarter. Friess Associates LLC bought a new position in shares of Limelight Networks during the 1st quarter worth about $6,393,000. Exchange Traded Concepts LLC boosted its position in shares of Limelight Networks by 592.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,425,939 shares of the information services provider’s stock worth $4,891,000 after purchasing an additional 1,219,877 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of Limelight Networks during the 4th quarter worth about $3,667,000. Finally, Granahan Investment Management LLC boosted its position in shares of Limelight Networks by 31.2% during the 1st quarter. Granahan Investment Management LLC now owns 3,415,867 shares of the information services provider’s stock worth $17,831,000 after purchasing an additional 811,747 shares in the last quarter. 51.29% of the stock is currently owned by institutional investors.

Limelight Networks Company Profile (Get Rating)

Limelight Networks, Inc provides content delivery network and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides online video platforms that integrates and manages advanced video delivery.

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