Banque Pictet & Cie SA reduced its holdings in Limelight Networks, Inc. (NASDAQ:LLNW) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,850,000 shares of the information services provider’s stock after selling 100,000 shares during the period. Banque Pictet & Cie SA owned approximately 1.69% of Limelight Networks worth $7,345,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in LLNW. Vanguard Group Inc. lifted 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 buying an additional 639,265 shares during the period. EAM Investors LLC bought a new stake in Limelight Networks in the second quarter valued at approximately $1,252,000. Algert Global LLC increased its stake in Limelight Networks by 614.3% in the second quarter. Algert Global LLC now owns 392,017 shares of the information services provider’s stock valued at $1,133,000 after purchasing an additional 337,139 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Limelight Networks in the second quarter valued at approximately $970,000. Finally, First Washington CORP increased its stake in Limelight Networks by 19.7% in the second quarter. First Washington CORP now owns 1,478,176 shares of the information services provider’s stock valued at $4,272,000 after purchasing an additional 243,055 shares in the last quarter. Institutional investors and hedge funds own 68.33% of the company’s stock.
LLNW has been the subject of several recent analyst reports. Cowen and Company reaffirmed an “outperform” rating and issued a $6.00 target price (up previously from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Friday, October 20th. B. Riley reissued a “buy” rating and set a $5.30 price objective (up previously from $4.30) on shares of Limelight Networks in a research report on Thursday, October 12th. DA Davidson set a $5.50 price objective on shares of Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, TheStreet raised shares of Limelight Networks from a “d+” rating to a “c” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Limelight Networks presently has an average rating of “Buy” and an average target price of $5.00.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The company had revenue of $46.07 million during the quarter, compared to the consensus estimate of $43.09 million. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. research analysts expect that Limelight Networks, Inc. will post -0.04 EPS for the current fiscal year.
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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