Perion Network (NASDAQ:PERI) Stock: Insider Michael Vorhaus Sells 2,161 Shares

Perion Network Ltd (NASDAQ:PERI) Director Michael Vorhaus sold 2,161 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $8.71, for a total value of $18,822.31. Following the completion of the transaction, the director directly owned 22,452 shares of the company’s stock, valued at $195,556.92. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Stock Performance

NASDAQ:PERI opened at $8.55 on Wednesday. Perion Network Ltd has a 52-week low of $7.63 and a 52-week high of $11.27. The firm has a market cap of $333.71 million, a price-to-earnings ratio of -24.43, a PEG ratio of 1.00 and a beta of 1.13. The business’s fifty day moving average is $9.26 and its 200 day moving average is $9.42.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $98.24 million for the quarter, compared to analysts’ expectations of $96.72 million. Perion Network had a positive return on equity of 2.43% and a negative net margin of 2.95%. Equities analysts predict that Perion Network Ltd will post 0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.88.

Institutional Trading of Perion Network

A number of large investors have recently modified their holdings of PERI. SG Americas Securities LLC grew its stake in shares of Perion Network by 21.9% during the first quarter. SG Americas Securities LLC now owns 12,190 shares of the technology company’s stock valued at $122,000 after buying an additional 2,186 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Perion Network by 698.9% in the 1st quarter. Royal Bank of Canada now owns 10,170 shares of the technology company’s stock valued at $102,000 after acquiring an additional 8,897 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Perion Network by 29.6% in the 1st quarter. Y.D. More Investments Ltd now owns 50,002 shares of the technology company’s stock valued at $503,000 after acquiring an additional 11,435 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Perion Network by 101.3% in the 1st quarter. Bank of America Corp DE now owns 24,480 shares of the technology company’s stock valued at $245,000 after acquiring an additional 12,317 shares during the last quarter. Finally, Perkins Capital Management Inc. boosted its holdings in Perion Network by 13.4% during the 1st quarter. Perkins Capital Management Inc. now owns 156,865 shares of the technology company’s stock valued at $1,567,000 after acquiring an additional 18,490 shares during the period. Institutional investors own 68.12% of the company’s stock.

About Perion Network

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.