Rhumbline Advisers Increases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Rhumbline Advisers increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 362,538 shares of the technology infrastructure company’s stock after acquiring an additional 21,365 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Akamai Technologies worth $31,316,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Aigen Investment Management LP acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $28,000. CFM Wealth Partners LLC acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $38,000. Parkside Financial Bank & Trust boosted its position in Akamai Technologies by 234.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 542 shares of the technology infrastructure company’s stock valued at $49,000 after buying an additional 380 shares during the period. Quest Capital Management Inc. ADV purchased a new position in Akamai Technologies in the 3rd quarter valued at approximately $58,000. Finally, Allred Capital Management LLC purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $67,000. 89.32% of the stock is owned by institutional investors.

In other news, Director Bernardus Johannes M. Verwaayen sold 25,062 shares of Akamai Technologies stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $87.74, for a total value of $2,198,939.88. Following the completion of the transaction, the director now owns 25,062 shares of the company’s stock, valued at approximately $2,198,939.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

AKAM has been the topic of several analyst reports. Royal Bank of Canada raised their target price on shares of Akamai Technologies from $83.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, October 29th. Zacks Investment Research upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Thursday. Piper Jaffray Companies reissued an “overweight” rating and set a $103.00 price objective (up previously from $97.00) on shares of Akamai Technologies in a report on Tuesday, October 29th. BidaskClub upgraded shares of Akamai Technologies from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, William Blair restated an “outperform” rating on shares of Akamai Technologies in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $100.26.

Akamai Technologies stock traded down $0.32 during midday trading on Friday, reaching $99.28. The company’s stock had a trading volume of 442,043 shares, compared to its average volume of 1,301,158. The firm has a market capitalization of $15.47 billion, a PE ratio of 36.10, a P/E/G ratio of 2.13 and a beta of 0.53. Akamai Technologies, Inc. has a fifty-two week low of $67.28 and a fifty-two week high of $103.29. The stock’s 50 day simple moving average is $92.98 and its 200 day simple moving average is $89.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.74 and a current ratio of 3.74.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 11th. The technology infrastructure company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.10. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. The company had revenue of $772.12 million for the quarter, compared to analyst estimates of $749.76 million. During the same period in the prior year, the business posted $1.07 earnings per share. Equities analysts predict that Akamai Technologies, Inc. will post 3.44 earnings per share for the current year.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

Further Reading: Initial Coin Offering (ICO)

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

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