Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,127 shares of the technology infrastructure company’s stock after buying an additional 219 shares during the quarter. CIBC Asset Management Inc’s holdings in Akamai Technologies were worth $1,513,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Bay Harbor Wealth Management LLC boosted its stake in shares of Akamai Technologies by 19.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 570 shares of the technology infrastructure company’s stock valued at $61,000 after purchasing an additional 91 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Akamai Technologies by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the technology infrastructure company’s stock valued at $750,000 after purchasing an additional 100 shares in the last quarter. Ellevest Inc. boosted its stake in shares of Akamai Technologies by 16.2% during the second quarter. Ellevest Inc. now owns 725 shares of the technology infrastructure company’s stock valued at $78,000 after purchasing an additional 101 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Akamai Technologies by 1.2% during the first quarter. Koshinski Asset Management Inc. now owns 10,071 shares of the technology infrastructure company’s stock valued at $921,000 after purchasing an additional 115 shares in the last quarter. Finally, Slow Capital Inc. boosted its stake in shares of Akamai Technologies by 0.5% during the first quarter. Slow Capital Inc. now owns 24,594 shares of the technology infrastructure company’s stock valued at $2,250,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

A number of analysts have recently commented on AKAM shares. DA Davidson lifted their price target on Akamai Technologies from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday. Craig Hallum raised their price objective on Akamai Technologies from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. Tigress Financial restated a “buy” rating on shares of Akamai Technologies in a research report on Tuesday, May 26th. Goldman Sachs Group raised their price objective on Akamai Technologies from $102.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their price objective on Akamai Technologies from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Akamai Technologies presently has an average rating of “Buy” and a consensus price target of $117.00.

NASDAQ AKAM opened at $112.44 on Friday. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 2.32 and a beta of 0.34. Akamai Technologies, Inc. has a 52 week low of $75.18 and a 52 week high of $116.39. The business has a 50 day moving average price of $108.31 and a 200-day moving average price of $99.29. The company has a quick ratio of 3.20, a current ratio of 3.34 and a debt-to-equity ratio of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 28th. The technology infrastructure company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.17. The firm had revenue of $794.72 million during the quarter, compared to the consensus estimate of $767.38 million. Akamai Technologies had a return on equity of 17.37% and a net margin of 17.82%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 3.93 earnings per share for the current year.

In other news, insider Rick M. Mcconnell sold 11,120 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $96.00, for a total transaction of $1,067,520.00. Following the completion of the sale, the insider now owns 38,747 shares in the company, valued at $3,719,712. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 4,068 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $98.00, for a total value of $398,664.00. Following the sale, the chief financial officer now owns 17,459 shares of the company’s stock, valued at approximately $1,710,982. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,992 shares of company stock valued at $3,849,989. Corporate insiders own 2.40% of the company’s stock.

Akamai Technologies Company Profile

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.

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

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