LGT Capital Partners LTD. grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 117.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 562,390 shares of the technology infrastructure company’s stock after purchasing an additional 303,800 shares during the quarter. Akamai Technologies comprises about 2.8% of LGT Capital Partners LTD.’s holdings, making the stock its 10th biggest holding. LGT Capital Partners LTD. owned about 0.35% of Akamai Technologies worth $34,351,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Canada Pension Plan Investment Board grew its position in shares of Akamai Technologies by 2,426.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 4,253,887 shares of the technology infrastructure company’s stock worth $311,172,000 after buying an additional 4,085,498 shares during the period. American Century Companies Inc. purchased a new stake in Akamai Technologies during the 3rd quarter valued at about $80,395,000. First Trust Advisors LP grew its position in Akamai Technologies by 18.1% during the 3rd quarter. First Trust Advisors LP now owns 4,554,723 shares of the technology infrastructure company’s stock valued at $333,178,000 after purchasing an additional 699,457 shares during the last quarter. Janus Henderson Group PLC grew its position in Akamai Technologies by 41.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,640,017 shares of the technology infrastructure company’s stock valued at $119,967,000 after purchasing an additional 477,914 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Akamai Technologies by 283.5% during the 3rd quarter. Bank of Montreal Can now owns 562,035 shares of the technology infrastructure company’s stock valued at $41,113,000 after purchasing an additional 415,497 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.
In other Akamai Technologies news, SVP Aaron Ahola sold 1,122 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $67.81, for a total transaction of $76,082.82. Following the sale, the senior vice president now owns 4,035 shares in the company, valued at approximately $273,613.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Sagan sold 55,500 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $70.46, for a total transaction of $3,910,530.00. Following the sale, the director now owns 59,678 shares in the company, valued at approximately $4,204,911.88. The disclosure for this sale can be found here. Insiders sold a total of 64,544 shares of company stock worth $4,561,298 in the last quarter. Company insiders own 3.20% of the company’s stock.
Shares of NASDAQ:AKAM traded down $0.70 during trading on Monday, hitting $62.40. The company’s stock had a trading volume of 30,683 shares, compared to its average volume of 1,726,450. Akamai Technologies, Inc. has a 12 month low of $57.18 and a 12 month high of $83.08. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $10.30 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 1.42 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Monday, October 29th. The technology infrastructure company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Akamai Technologies had a net margin of 8.39% and a return on equity of 12.06%. The firm had revenue of $669.63 million for the quarter, compared to analysts’ expectations of $664.17 million. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Akamai Technologies, Inc. will post 2.66 earnings per share for the current fiscal year.
Akamai Technologies announced that its board has approved a share repurchase program on Monday, October 29th that permits the company to buyback $1.10 billion in outstanding shares. This buyback authorization permits the technology infrastructure company to reacquire up to 10.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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Akamai Technologies 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. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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