Robert A. Lento Sells 40,000 Shares of Limelight Networks (LLNW) Stock

Limelight Networks (NASDAQ:LLNW) CEO Robert A. Lento sold 40,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $4.21, for a total value of $168,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ LLNW opened at $3.95 on Friday. Limelight Networks has a 52 week low of $2.41 and a 52 week high of $6.05.

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Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. Limelight Networks had a negative return on equity of 1.50% and a negative net margin of 4.14%. The firm had revenue of $48.19 million for the quarter, compared to the consensus estimate of $47.74 million. During the same quarter last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. analysts predict that Limelight Networks will post 0.01 EPS for the current year.

Several large investors have recently added to or reduced their stakes in LLNW. State Street Corp grew its position in shares of Limelight Networks by 10.4% during the second quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock worth $3,650,000 after purchasing an additional 118,836 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Limelight Networks by 4.8% during 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 in the last quarter. Bank of New York Mellon Corp grew its position in shares of Limelight Networks by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 289,101 shares of the information services provider’s stock worth $1,148,000 after purchasing an additional 10,368 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Limelight Networks by 72.8% during 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 in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Limelight Networks by 61.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 147,000 shares of the information services provider’s stock worth $584,000 after purchasing an additional 56,100 shares in the last quarter. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Several research analysts have recently commented on LLNW shares. B. Riley reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Limelight Networks in a research note on Wednesday, December 13th. ValuEngine raised Limelight Networks from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. BidaskClub downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research downgraded Limelight Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $5.50.

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About Limelight Networks

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

Insider Buying and Selling by Quarter for Limelight Networks (NASDAQ:LLNW)

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