World Asset Management Inc lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,432 shares of the technology infrastructure company’s stock after selling 3,526 shares during the period. World Asset Management Inc’s holdings in Akamai Technologies were worth $769,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. DnB Asset Management AS raised its position 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 valued at $776,000 after buying an additional 1,600 shares in the last quarter. Bank of Montreal Can raised its position in Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock valued at $7,561,000 after buying an additional 58,293 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Akamai Technologies by 17.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,916 shares of the technology infrastructure company’s stock valued at $831,000 after buying an additional 2,076 shares in the last quarter. Two Sigma Securities LLC bought a new position in Akamai Technologies during the first quarter valued at approximately $230,000. Finally, Comerica Securities Inc. bought a new position in Akamai Technologies during the first quarter valued at approximately $321,000. Institutional investors and hedge funds own 87.19% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ AKAM) opened at 47.31 on Tuesday. The firm has a market capitalization of $8.14 billion, a P/E ratio of 27.02 and a beta of 0.66. Akamai Technologies, Inc. has a 52-week low of $45.41 and a 52-week high of $71.64. The firm has a 50-day moving average price of $49.91 and a 200 day moving average price of $57.09.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $608.90 million for the quarter, compared to the consensus estimate of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Analysts forecast that Akamai Technologies, Inc. will post $2.52 EPS for the current year.
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Several research analysts have recently commented on AKAM shares. Morgan Stanley lowered Akamai Technologies from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $68.00 to $54.00 in a report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reiterated 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 Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $70.00 to $60.00 in a report on Wednesday, May 3rd. Zacks Investment Research upgraded Akamai Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 11th. Finally, Robert W. Baird lowered Akamai Technologies from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $60.00 to $55.00 in a report on Friday, May 5th. 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 assigned a strong buy rating to the company’s stock. Akamai Technologies has a consensus rating of “Hold” and an average target price of $62.76.
In related news, Director Frederic V. Salerno bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were acquired at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the acquisition, the director now owns 62,192 shares in the company, valued at approximately $2,912,451.36. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the sale, the director now owns 64,147 shares in the company, valued at $3,177,200.91. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 66,410 shares of company stock worth $3,233,594. Company insiders own 3.20% of the company’s stock.
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.
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