Andra AP fonden lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,600 shares of the technology infrastructure company’s stock after selling 1,400 shares during the period. Andra AP fonden’s holdings in Akamai Technologies were worth $1,296,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Advisory Services Network LLC grew its position in shares of Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 168 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at about $117,000. BB&T Investment Services Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at about $119,000. FTB Advisors Inc. grew its position in shares of Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after buying an additional 59 shares during the last quarter. Finally, Tobam bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at about $153,000. 84.30% of the stock is owned by institutional investors and hedge funds.
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In related news, SVP Aaron Ahola sold 2,893 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the sale, the senior vice president now owns 8,046 shares in the company, valued at approximately $421,932.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,438 shares of company stock valued at $1,463,695. 3.20% of the stock is owned by insiders.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $53.52 on Tuesday. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64. The company has a market cap of $9,178.17, a P/E ratio of 28.26, a P/E/G ratio of 2.16 and a beta of 0.66. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. equities analysts predict that Akamai Technologies, Inc. will post 1.88 EPS for the current year.
A number of equities research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $60.00 price objective on shares of Akamai Technologies in a research report on Friday, July 28th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $53.00 to $54.00 in a research report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $56.00 target price (down previously from $58.00) on shares of Akamai Technologies in a research report on Wednesday, July 26th. BidaskClub cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, SunTrust Banks, Inc. restated a “hold” rating on shares of Akamai Technologies in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $60.73.
Akamai Technologies Profile
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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