Limelight Networks (NASDAQ:LLNW)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley in a note issued to investors on Thursday. They presently have a $6.00 price objective on the information services provider’s stock. B. Riley’s target price would indicate a potential upside of 34.83% from the company’s current price.
A number of other brokerages also recently issued reports on LLNW. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Friday, October 20th. BidaskClub downgraded shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Cowen reissued an “outperform” rating and issued a $6.00 price target (up from $4.00) on shares of Limelight Networks in a report on Thursday, October 19th. Finally, DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the stock a “buy” rating in a report on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Limelight Networks has a consensus rating of “Buy” and an average price target of $5.00.
Shares of Limelight Networks (NASDAQ:LLNW) traded up $0.14 during trading on Thursday, hitting $4.45. 611,631 shares of the stock were exchanged, compared to its average volume of 724,038. Limelight Networks has a 52-week low of $2.10 and a 52-week high of $6.05. The stock has a market capitalization of $488.21, a P/E ratio of -44.50, a price-to-earnings-growth ratio of 642.00 and a beta of 2.54.
In related news, Director Mark J. Midle sold 15,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total value of $65,250,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 37.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of LLNW. Wolverine Trading LLC increased its position in shares of Limelight Networks by 761.3% in the third quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock worth $150,000 after purchasing an additional 43,477 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Limelight Networks by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock worth $193,000 after purchasing an additional 3,090 shares during the last quarter. OxFORD Asset Management LLP increased its position in shares of Limelight Networks by 115.3% in the second quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock worth $209,000 after purchasing an additional 38,647 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Limelight Networks in the second quarter worth approximately $220,000. Finally, Wells Fargo & Company MN increased its position in shares of Limelight Networks by 72.8% in the third quarter. Wells Fargo & Company MN now owns 77,272 shares of the information services provider’s stock worth $307,000 after purchasing an additional 32,543 shares during the last quarter. Institutional investors own 69.96% of the company’s stock.
About Limelight Networks
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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