Cipher Capital LP reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,255 shares of the technology infrastructure company’s stock after selling 170 shares during the quarter. Cipher Capital LP’s holdings in Akamai Technologies were worth $1,158,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cadence Capital Management LLC boosted its holdings in Akamai Technologies by 0.6% in the second quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock valued at $236,000 after purchasing an additional 30 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Akamai Technologies by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock worth $254,000 after acquiring an additional 37 shares during the period. Advantus Capital Management Inc raised its position in shares of Akamai Technologies by 0.4% in the first quarter. Advantus Capital Management Inc now owns 17,334 shares of the technology infrastructure company’s stock worth $1,035,000 after acquiring an additional 75 shares during the period. Trust Co raised its position in shares of Akamai Technologies by 2.1% in the first quarter. Trust Co now owns 4,447 shares of the technology infrastructure company’s stock worth $266,000 after acquiring an additional 90 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Akamai Technologies by 0.3% in the first quarter. Utah Retirement Systems now owns 31,496 shares of the technology infrastructure company’s stock worth $1,880,000 after acquiring an additional 100 shares during the period. 84.49% of the stock is currently owned by hedge funds and other institutional investors.
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A number of brokerages have weighed in on AKAM. Stifel Nicolaus reiterated a “hold” rating and issued a $56.00 price objective on shares of Akamai Technologies in a research report on Thursday, September 14th. Vetr downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price target for the company. in a research report on Wednesday, September 13th. Nomura reduced their price target on shares of Akamai Technologies from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, September 5th. Instinet restated a “neutral” rating and set a $47.00 price target (down previously from $48.00) on shares of Akamai Technologies in a research report on Tuesday, September 5th. Finally, Credit Suisse Group initiated coverage on shares of Akamai Technologies in a research report on Tuesday, September 5th. They set a “neutral” rating and a $50.00 price target for the company. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Hold” and a consensus target price of $61.50.
In other news, Director Frederic V. Salerno acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were purchased at an average cost of $46.83 per share, with a total value of $234,150.00. Following the acquisition, the director now directly owns 62,192 shares in the company, valued at approximately $2,912,451.36. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO F Thomson Leighton acquired 21,554 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $46.91 per share, for a total transaction of $1,011,098.14. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 46,371 shares of company stock worth $2,245,016. 3.20% of the stock is owned by company insiders.
Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at 48.33 on Friday. The stock has a 50 day moving average of $46.54 and a 200-day moving average of $52.35. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 27.60 and a beta of 0.64. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $608.90 million for the quarter, compared to analysts’ expectations of $604.51 million. During the same quarter in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Akamai Technologies, Inc. will post $2.52 earnings per share for the current fiscal year.
Akamai Technologies Profile
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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