Akamai Technologies, Inc. (AKAM) Position Cut by EULAV Asset Management

EULAV Asset Management decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,000 shares of the technology infrastructure company’s stock after selling 25,000 shares during the period. EULAV Asset Management owned approximately 0.08% of Akamai Technologies worth $7,790,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new position in Akamai Technologies during the second quarter valued at about $73,367,000. Capital World Investors boosted its position in Akamai Technologies by 8.1% in the second quarter. Capital World Investors now owns 15,028,695 shares of the technology infrastructure company’s stock valued at $840,555,000 after buying an additional 1,126,696 shares in the last quarter. William Blair Investment Management LLC boosted its position in Akamai Technologies by 19.7% in the second quarter. William Blair Investment Management LLC now owns 4,428,561 shares of the technology infrastructure company’s stock valued at $247,689,000 after buying an additional 728,294 shares in the last quarter. PGGM Investments bought a new position in Akamai Technologies during the second quarter valued at about $30,442,000. Finally, GMT Capital Corp bought a new position in Akamai Technologies during the third quarter valued at about $26,389,000. 90.61% of the stock is currently owned by institutional investors.

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

Akamai Technologies, Inc. (NASDAQ:AKAM) traded down 0.18% during mid-day trading on Wednesday, hitting $70.15. The company had a trading volume of 432,036 shares. The company has a 50-day moving average price of $66.74 and a 200 day moving average price of $58.61. Akamai Technologies, Inc. has a 52-week low of $39.43 and a 52-week high of $71.64. The company has a market capitalization of $12.16 billion, a P/E ratio of 39.84 and a beta of 0.92.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, October 25th. The technology infrastructure company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.07. Akamai Technologies had a return on equity of 11.61% and a net margin of 13.59%. The firm earned $584.10 million during the quarter, compared to analysts’ expectations of $571.92 million. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that Akamai Technologies, Inc. will post $2.67 EPS for the current fiscal year.

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AKAM has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on shares of Akamai Technologies in a research note on Wednesday. They issued an “outperform” rating on the stock. B. Riley reiterated a “buy” rating and issued a $75.00 price objective on shares of Akamai Technologies in a research note on Sunday. Guggenheim initiated coverage on shares of Akamai Technologies in a research note on Thursday, December 22nd. They issued a “buy” rating and a $75.00 price objective on the stock. Cowen and Company reiterated a “market perform” rating on shares of Akamai Technologies in a research note on Thursday, October 27th. Finally, Zacks Investment Research cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, December 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Buy” and a consensus price target of $64.11.

In other Akamai Technologies news, EVP Melanie Haratunian sold 2,575 shares of the company’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $56.00, for a total value of $144,200.00. Following the completion of the sale, the executive vice president now directly owns 91,699 shares in the company, valued at approximately $5,135,144. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO F Thomson Leighton bought 18,276 shares of the company’s stock in a transaction on Monday, October 17th. The stock was bought at an average price of $54.70 per share, with a total value of $999,697.20. The disclosure for this purchase can be found here. Corporate insiders own 2.70% 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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

5 Day Chart for NASDAQ:AKAM

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