Limelight Networks, Inc. (NASDAQ:LLNW) CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $4.00, for a total value of $160,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Limelight Networks, Inc. (NASDAQ LLNW) opened at $4.40 on Wednesday. The firm has a market capitalization of $487.64, a PE ratio of -62.86 and a beta of 2.43. Limelight Networks, Inc. has a fifty-two week low of $2.10 and a fifty-two week high of $6.05.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The firm had revenue of $48.19 million during the quarter, compared to analyst estimates of $47.74 million. Limelight Networks had a negative return on equity of 1.50% and a negative net margin of 4.14%. Limelight Networks’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share.
A number of brokerages have recently issued reports on LLNW. B. Riley reaffirmed a “buy” rating and set a $6.00 target price on shares of Limelight Networks in a research report on Monday, December 4th. BidaskClub lowered Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Zacks Investment Research lowered Limelight Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.63.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Limelight Networks by 1.3% in the fourth quarter. BlackRock Inc. now owns 6,934,194 shares of the information services provider’s stock valued at $30,580,000 after buying an additional 88,510 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Limelight Networks by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock valued at $11,191,000 after buying an additional 50,901 shares during the last quarter. Hood River Capital Management LLC increased its holdings in Limelight Networks by 102.6% in the fourth quarter. Hood River Capital Management LLC now owns 3,461,955 shares of the information services provider’s stock valued at $15,267,000 after buying an additional 1,753,125 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Limelight Networks by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,970,655 shares of the information services provider’s stock valued at $13,101,000 after buying an additional 462,800 shares during the last quarter. Finally, B. Riley Financial Inc. bought a new position in shares of Limelight Networks during the fourth quarter valued at approximately $8,314,000. 68.96% of the stock is owned by hedge funds and other institutional investors.
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.