Limelight Networks SVP Purchases $245,000 in Stock (LLNW)
Limelight Networks (NASDAQ:LLNW) SVP Sajid Malhotra bought 100,000 shares of Limelight Networks stock on the open market in a transaction dated Wednesday, June 4th. The stock was purchased at an average cost of $2.45 per share, for a total transaction of $245,000.00. Following the acquisition, the senior vice president now directly owns 400,000 shares in the company, valued at approximately $980,000. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at FBR Capital Markets cut their price target on shares of Limelight Networks from $3.50 to $2.00 in a research note on Wednesday, May 7th. They now have a “market perform” rating on the stock.
Shares of Limelight Networks (NASDAQ:LLNW) traded up 7.00% during mid-day trading on Thursday, hitting $2.675. 771,531 shares of the company’s stock traded hands. Limelight Networks has a 52-week low of $1.82 and a 52-week high of $2.56. The stock’s 50-day moving average is $2.12 and its 200-day moving average is $2.08. The company’s market cap is $263.4 million.
Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.03. The company had revenue of $41.20 million for the quarter, compared to the consensus estimate of $38.91 million. During the same quarter last year, the company posted ($0.04) earnings per share. Limelight Networks’s revenue was down 10.1% compared to the same quarter last year. Analysts expect that Limelight Networks will post $-0.25 EPS for the current fiscal year.
Limelight Networks, Inc (NASDAQ:LLNW) operates a globally distributed, high-performance computing platform (its global computing platform) upon which it provides an integrated suite of services, including content delivery services, Web content management services, video content management services, Web acceleration services, mobility and monetization services, cloud storage services and related consulting services.
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