JPMorgan Chase & Co. Acquires 107,278 Shares of Perion Network Ltd. (NASDAQ:PERI)

JPMorgan Chase & Co. increased its position in Perion Network Ltd. (NASDAQ:PERI - Free Report) by 39.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 378,667 shares of the technology company's stock after purchasing an additional 107,278 shares during the period. JPMorgan Chase & Co. owned about 0.79% of Perion Network worth $2,984,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in Perion Network by 4.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company's stock worth $11,136,000 after acquiring an additional 55,745 shares during the period. Clearline Capital LP acquired a new stake in shares of Perion Network during the third quarter worth approximately $2,221,000. ARK Investment Management LLC grew its position in Perion Network by 24.2% during the third quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company's stock valued at $1,880,000 after purchasing an additional 46,542 shares in the last quarter. PDT Partners LLC increased its stake in Perion Network by 58.8% in the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company's stock valued at $1,382,000 after buying an additional 64,936 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Perion Network by 997.5% in the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company's stock worth $1,117,000 after buying an additional 121,622 shares in the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PERI has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on shares of Perion Network from $9.00 to $7.50 and set a "hold" rating on the stock in a research note on Monday, October 14th. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $12.13.

Perion Network Trading Down 0.3 %

Perion Network stock traded down $0.03 during trading hours on Monday, reaching $8.87. 234,963 shares of the company were exchanged, compared to its average volume of 271,548. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $31.38. The firm has a market cap of $426.89 million, a price-to-earnings ratio of 9.54, a PEG ratio of 0.77 and a beta of 1.46. The stock has a 50-day moving average of $8.66 and a 200 day moving average of $8.42.

Perion Network Company Profile

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.