Perion Network Ltd. (NASDAQ:PERI) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in Perion Network Ltd. (NASDAQ:PERI) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,112 shares of the technology company’s stock after selling 9,938 shares during the period. Swiss National Bank owned 0.20% of Perion Network worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PERI. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Perion Network by 11.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,319,354 shares of the technology company’s stock worth $102,468,000 after purchasing an additional 346,610 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Perion Network by 14.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company’s stock worth $81,199,000 after acquiring an additional 330,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Perion Network by 12.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company’s stock valued at $70,971,000 after acquiring an additional 260,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Perion Network by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock valued at $43,960,000 after acquiring an additional 26,181 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Perion Network by 8.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,188,634 shares of the technology company’s stock worth $36,693,000 after purchasing an additional 92,665 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PERI shares. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Perion Network in a research report on Thursday, May 9th. Roth Mkm restated a “neutral” rating and set a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Roth Capital downgraded Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. StockNews.com downgraded Perion Network from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Lake Street Capital reiterated a “hold” rating and issued a $16.00 price target on shares of Perion Network in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.80.

Perion Network Trading Down 2.3 %

Shares of Perion Network stock opened at $11.54 on Thursday. Perion Network Ltd. has a twelve month low of $10.77 and a twelve month high of $36.86. The stock has a market cap of $553.80 million, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 0.41 and a beta of 1.37. The company has a fifty day moving average price of $15.53 and a 200 day moving average price of $23.32.

About Perion Network

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.