Limelight Networks, Inc. (NASDAQ:LLNW) insider Michael Disanto sold 93,068 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $7.88, for a total value of $733,375.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Michael Disanto also recently made the following trade(s):
- On Friday, June 26th, Michael Disanto sold 100,000 shares of Limelight Networks stock. The shares were sold at an average price of $7.30, for a total value of $730,000.00.
- On Tuesday, June 30th, Michael Disanto sold 24,282 shares of Limelight Networks stock. The shares were sold at an average price of $7.54, for a total value of $183,086.28.
- On Wednesday, June 24th, Michael Disanto sold 4,731 shares of Limelight Networks stock. The shares were sold at an average price of $6.53, for a total value of $30,893.43.
Limelight Networks stock opened at $7.78 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $930.96 million, a price-to-earnings ratio of -77.80 and a beta of 1.01. Limelight Networks, Inc. has a one year low of $2.20 and a one year high of $8.19. The company’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $5.16.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Thursday, April 23rd. The information services provider reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $57.01 million for the quarter, compared to the consensus estimate of $54.66 million. Limelight Networks had a negative net margin of 5.94% and a negative return on equity of 7.90%. The business’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. As a group, sell-side analysts anticipate that Limelight Networks, Inc. will post -0.08 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of LLNW. Lord Abbett & CO. LLC acquired a new position in Limelight Networks during the fourth quarter worth $9,444,000. Driehaus Capital Management LLC acquired a new position in Limelight Networks during the fourth quarter worth $9,262,000. Kennedy Capital Management Inc. acquired a new position in Limelight Networks during the fourth quarter worth $5,164,000. Cowen Prime Services LLC acquired a new position in Limelight Networks during the first quarter worth $3,981,000. Finally, Precept Management LLC bought a new stake in Limelight Networks during the first quarter valued at about $3,705,000. 80.32% of the stock is currently owned by hedge funds and other institutional investors.
LLNW has been the subject of a number of research analyst reports. Raymond James increased their target price on Limelight Networks from $6.00 to $8.50 and gave the company an “outperform” rating in a report on Friday, June 26th. Oppenheimer restated a “buy” rating and issued a $7.00 target price on shares of Limelight Networks in a report on Thursday, April 23rd. Northland Securities assumed coverage on shares of Limelight Networks in a research note on Friday, June 19th. They issued a “buy” rating and a $8.00 price target on the stock. Lake Street Capital assumed coverage on shares of Limelight Networks in a research note on Monday, June 22nd. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research note on Thursday, June 25th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Limelight Networks currently has an average rating of “Buy” and a consensus target price of $7.19.
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, social, and other digital initiatives.
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