Zvika Netter Acquires 20,000 Shares of Innovid Corp. (NYSE:CTV) Stock

Innovid Corp. (NYSE:CTV) CEO Zvika Netter purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average cost of $2.07 per share, with a total value of $41,400.00. Following the completion of the purchase, the chief executive officer now owns 4,960,733 shares of the company’s stock, valued at $10,268,717.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Zvika Netter also recently made the following trade(s):

• On Wednesday, February 28th, Zvika Netter bought 25,000 shares of Innovid stock. The shares were purchased at an average price of $1.84 per share, for a total transaction of $46,000.00.

Innovid Price Performance

CTV stock opened at $2.13 on Friday. The business has a 50 day moving average of $2.25 and a 200 day moving average of $1.78. Innovid Corp. has a twelve month low of $0.89 and a twelve month high of $2.58.

Innovid (NYSE:CTV) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $35.99 million. Innovid had a negative net margin of 20.24% and a negative return on equity of 7.81%. During the same quarter in the previous year, the business earned ($0.06) earnings per share. As a group, sell-side analysts expect that Innovid Corp. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Innovid

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in shares of Innovid by 174.3% in the first quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock worth $1,297,000 after purchasing an additional 331,643 shares during the last quarter. Vanguard Group Inc. raised its position in Innovid by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock worth $11,344,000 after buying an additional 279,830 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Innovid by 29.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,538 shares of the company’s stock worth $276,000 after buying an additional 48,704 shares during the last quarter. Jump Financial LLC bought a new position in Innovid during the 3rd quarter valued at about $34,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Innovid during the 1st quarter valued at about $58,000. 25.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTV. JMP Securities restated a “market outperform” rating and issued a $3.00 target price on shares of Innovid in a research note on Wednesday, April 10th. TheStreet raised Innovid from a “d” rating to a “c-” rating in a research report on Friday, March 15th. Morgan Stanley upped their target price on shares of Innovid from $1.60 to $2.10 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of Innovid in a research report on Monday.

About Innovid

Innovid Corp. operates an independent software platform that provides ad serving, measurement, and creative services. It offers advertising services for the creation, delivery, and measurement of TV ads across connected TV, mobile TV, and desktop TV environments to advertisers, publishers, and media agencies.