Oppenheimer & Co. Inc. cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,127 shares of the technology infrastructure company’s stock after selling 1,163 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Akamai Technologies were worth $2,017,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in AKAM. Vanguard Group Inc lifted its stake in Akamai Technologies by 0.4% in the third quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock valued at $1,250,409,000 after acquiring an additional 63,759 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Akamai Technologies by 1.0% in the third quarter. Clearbridge Investments LLC now owns 8,773,583 shares of the technology infrastructure company’s stock worth $641,788,000 after buying an additional 90,270 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Akamai Technologies by 10.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,719,117 shares of the technology infrastructure company’s stock worth $288,219,000 after buying an additional 465,230 shares during the last quarter. Elliott Management Corp lifted its stake in shares of Akamai Technologies by 19.2% in the fourth quarter. Elliott Management Corp now owns 2,383,468 shares of the technology infrastructure company’s stock worth $145,582,000 after buying an additional 383,468 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Akamai Technologies by 220.0% in the fourth quarter. Millennium Management LLC now owns 2,351,173 shares of the technology infrastructure company’s stock worth $143,610,000 after buying an additional 1,616,320 shares during the last quarter. Institutional investors own 88.56% of the company’s stock.
Several equities research analysts have issued reports on AKAM shares. Tigress Financial reissued a “strong-buy” rating on shares of Akamai Technologies in a report on Thursday, April 4th. BidaskClub raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Zacks Investment Research lowered shares of Akamai Technologies from a “buy” rating to a “sell” rating in a report on Tuesday, April 16th. KeyCorp upped their target price on shares of Akamai Technologies from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, February 13th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $76.00 target price (down previously from $77.00) on shares of Akamai Technologies in a report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $82.47.
In other Akamai Technologies news, EVP Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $80.95, for a total transaction of $404,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William Wheaton sold 6,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $80.00, for a total value of $480,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,194 shares of company stock valued at $6,237,808. 2.40% of the stock is owned by company insiders.
Akamai Technologies stock traded up $1.24 during trading hours on Wednesday, reaching $79.14. 1,039,245 shares of the company’s stock traded hands, compared to its average volume of 1,288,961. The company has a market cap of $12.61 billion, a PE ratio of 28.67, a PEG ratio of 1.65 and a beta of 0.60. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.27. Akamai Technologies, Inc. has a fifty-two week low of $57.18 and a fifty-two week high of $86.19.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The business had revenue of $706.51 million for the quarter, compared to the consensus estimate of $698.33 million. During the same period last year, the company posted $0.79 EPS. Akamai Technologies’s revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts forecast that Akamai Technologies, Inc. will post 3.21 EPS for the current year.
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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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