Limelight Networks, Inc. (NASDAQ:LLNW) Director Mark J. Midle sold 15,000,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Limelight Networks, Inc. (NASDAQ LLNW) traded down $0.03 during trading hours on Thursday, hitting $4.73. The stock had a trading volume of 683,400 shares, compared to its average volume of 512,527. Limelight Networks, Inc. has a 52-week low of $2.02 and a 52-week high of $6.05.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 EPS for the quarter. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The company had revenue of $46.07 million during the quarter, compared to the consensus estimate of $43.09 million. The firm’s revenue was up 16.7% compared to the same quarter last year. sell-side analysts forecast that Limelight Networks, Inc. will post -0.04 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. raised its stake in Limelight Networks by 7.1% in the first quarter. American International Group Inc. now owns 43,718 shares of the information services provider’s stock valued at $113,000 after buying an additional 2,913 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in Limelight Networks by 35.9% in the first quarter. TIAA CREF Investment Management LLC now owns 425,657 shares of the information services provider’s stock valued at $1,098,000 after purchasing an additional 112,371 shares during the period. Vanguard Group Inc. grew its holdings in Limelight Networks by 24.0% in the first quarter. Vanguard Group Inc. now owns 3,307,238 shares of the information services provider’s stock valued at $8,533,000 after purchasing an additional 639,265 shares during the period. Geode Capital Management LLC grew its holdings in Limelight Networks by 6.7% in the first quarter. Geode Capital Management LLC now owns 477,917 shares of the information services provider’s stock valued at $1,233,000 after purchasing an additional 29,892 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Limelight Networks by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,821,332 shares of the information services provider’s stock valued at $9,859,000 after acquiring an additional 211,905 shares in the last quarter. Hedge funds and other institutional investors own 70.27% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Friday, October 20th. B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of Limelight Networks in a research note on Monday. DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Cowen reaffirmed an “outperform” rating and set a $6.00 price target (up from $4.00) on shares of Limelight Networks in a report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $5.00.

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Limelight Networks Company Profile

Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.

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