Insider Selling: Limelight Networks, Inc. (LLNW) CEO Sells 40,000 Shares of Stock

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Limelight Networks, Inc. (NASDAQ:LLNW) CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $4.89, for a total value of $195,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Robert A. Lento also recently made the following trade(s):

  • On Wednesday, August 1st, Robert A. Lento sold 40,000 shares of Limelight Networks stock. The shares were sold at an average price of $4.42, for a total value of $176,800.00.
  • On Monday, July 2nd, Robert A. Lento sold 40,000 shares of Limelight Networks stock. The shares were sold at an average price of $4.46, for a total value of $178,400.00.

Shares of LLNW stock opened at $4.80 on Friday. Limelight Networks, Inc. has a 1-year low of $3.51 and a 1-year high of $6.05. The firm has a market cap of $532.80 million, a P/E ratio of -240.00, a price-to-earnings-growth ratio of 11.47 and a beta of 2.27.

Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Thursday, July 19th. The information services provider reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Limelight Networks had a return on equity of 1.99% and a net margin of 6.43%. The firm had revenue of $50.25 million for the quarter, compared to the consensus estimate of $49.64 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. analysts predict that Limelight Networks, Inc. will post 0.03 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC purchased a new position in Limelight Networks during the 2nd quarter worth $125,000. Macquarie Group Ltd. purchased a new position in Limelight Networks during the 2nd quarter worth $139,000. Cim Investment Mangement Inc. purchased a new position in Limelight Networks during the 2nd quarter worth $182,000. WINTON GROUP Ltd purchased a new position in Limelight Networks during the 1st quarter worth $172,000. Finally, MetLife Investment Advisors LLC grew its stake in Limelight Networks by 172.6% during the 1st quarter. MetLife Investment Advisors LLC now owns 43,835 shares of the information services provider’s stock worth $180,000 after buying an additional 27,754 shares during the last quarter. Hedge funds and other institutional investors own 72.38% of the company’s stock.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “strong-buy” rating and set a $5.75 price target on the stock in a report on Wednesday, June 20th. BidaskClub downgraded Limelight Networks from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. TheStreet upgraded Limelight Networks from a “c” rating to a “b-” rating in a report on Thursday, July 19th. ValuEngine downgraded Limelight Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, June 1st. Finally, DA Davidson reiterated a “buy” rating on shares of Limelight Networks in a report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $5.96.

Limelight Networks Company Profile

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.

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