NGAM Advisors L.P. lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 50.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,070 shares of the technology infrastructure company’s stock after selling 74,317 shares during the period. NGAM Advisors L.P.’s holdings in Akamai Technologies were worth $3,640,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of AKAM. DnB Asset Management AS increased its stake in Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock worth $776,000 after buying an additional 1,600 shares in the last quarter. Howland Capital Management LLC boosted its position in shares of Akamai Technologies by 5.8% in the first quarter. Howland Capital Management LLC now owns 278,621 shares of the technology infrastructure company’s stock worth $16,634,000 after buying an additional 15,227 shares during the last quarter. Baldwin Brothers Inc. MA bought a new position in shares of Akamai Technologies during the first quarter worth approximately $4,276,000. Atria Investments LLC boosted its position in shares of Akamai Technologies by 4.4% in the first quarter. Atria Investments LLC now owns 7,542 shares of the technology infrastructure company’s stock worth $450,000 after buying an additional 321 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. bought a new position in shares of Akamai Technologies during the first quarter worth approximately $1,626,000. 86.44% of the stock is owned by institutional investors.
Akamai Technologies, Inc. (AKAM) traded down 0.09% during trading on Friday, hitting $45.36. The company had a trading volume of 1,378,991 shares. Akamai Technologies, Inc. has a 1-year low of $45.18 and a 1-year high of $71.64. The company’s 50 day moving average price is $48.77 and its 200-day moving average price is $55.32. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 25.91 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. On average, analysts expect that Akamai Technologies, Inc. will post $2.52 EPS for the current year.
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AKAM has been the topic of a number of recent analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $57.00 price target on shares of Akamai Technologies in a research report on Wednesday, July 26th. Royal Bank Of Canada restated a “sector perform” rating and issued a $58.00 price target (down previously from $65.00) on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $58.00 target price (down previously from $62.00) on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $46.00 target price (down previously from $52.00) on shares of Akamai Technologies in a research report on Friday, June 30th. Finally, B. Riley reiterated a “buy” rating and issued a $66.00 target price on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.76.
In other Akamai Technologies news, Director Frederic V. Salerno acquired 5,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were purchased at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the transaction, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO F Thomson Leighton bought 21,554 shares of the stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $46.91 per share, with a total value of $1,011,098.14. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 87,964 shares of company stock worth $4,244,692. Corporate insiders own 3.20% of the company’s stock.
About Akamai Technologies
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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