Skylands Capital LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Skylands Capital LLC bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,250 shares of the technology infrastructure company’s stock, valued at approximately $1,208,000.

Several other hedge funds have also added to or reduced their stakes in AKAM. Vanguard Group Inc. raised its stake in Akamai Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock worth $963,462,000 after buying an additional 476,166 shares in the last quarter. Clearbridge Investments LLC raised its stake in Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after buying an additional 717,811 shares in the last quarter. First Trust Advisors LP raised its stake in Akamai Technologies by 19.6% in the first quarter. First Trust Advisors LP now owns 3,420,437 shares of the technology infrastructure company’s stock worth $204,200,000 after buying an additional 560,932 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after buying an additional 780,019 shares in the last quarter. Finally, Blue Harbour Group L.P. raised its stake in Akamai Technologies by 15.4% in the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after buying an additional 381,300 shares in the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.

Shares of Akamai Technologies, Inc. (AKAM) traded down 0.09% during mid-day trading on Friday, reaching $45.36. 1,378,991 shares of the company’s stock were exchanged. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 25.91 and a beta of 0.66. The stock’s 50-day moving average is $48.77 and its 200-day moving average is $55.32. Akamai Technologies, Inc. has a 52-week low of $45.18 and a 52-week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The business had revenue of $608.90 million during the quarter, compared to the consensus estimate of $604.51 million. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Akamai Technologies, Inc. will post $2.52 EPS for the current year.

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A number of equities research analysts have recently issued reports on AKAM shares. Morgan Stanley lowered shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $68.00 to $54.00 in a report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $46.00 price target (down previously from $52.00) on shares of Akamai Technologies in a report on Friday, June 30th. Guggenheim lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $60.00 in a research note on Wednesday, May 3rd. Robert W. Baird lowered shares of Akamai Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $55.00 in a research note on Friday, May 5th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $73.00 price objective (down previously from $80.00) on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Hold” and a consensus price target of $62.76.

In related news, CEO F Thomson Leighton bought 21,554 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederic V. Salerno bought 5,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was bought at an average price of $46.83 per share, with a total value of $234,150.00. Following the purchase, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 87,964 shares of company stock valued at $4,244,692. 3.20% of the stock is owned by corporate insiders.

Akamai Technologies Company 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.

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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