Shell Asset Management Co. Has $511,000 Position in Akamai Technologies, Inc. (AKAM)

Shell Asset Management Co. held its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,263 shares of the technology infrastructure company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Akamai Technologies were worth $511,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. LGT Capital Partners LTD. raised its stake in Akamai Technologies by 106.8% in the second quarter. LGT Capital Partners LTD. now owns 387,850 shares of the technology infrastructure company’s stock valued at $19,319,000 after buying an additional 200,300 shares in the last quarter. Moloney Securities Asset Management LLC bought a new stake in Akamai Technologies during the second quarter valued at $1,158,000. Acadian Asset Management LLC raised its stake in Akamai Technologies by 62.4% in the second quarter. Acadian Asset Management LLC now owns 52,126 shares of the technology infrastructure company’s stock valued at $2,597,000 after buying an additional 20,033 shares in the last quarter. Miller Howard Investments Inc. NY bought a new stake in Akamai Technologies during the second quarter valued at $1,727,000. Finally, Financial Architects Inc raised its stake in Akamai Technologies by 744.2% in the second quarter. Financial Architects Inc now owns 6,475 shares of the technology infrastructure company’s stock valued at $323,000 after buying an additional 5,708 shares in the last quarter. 86.44% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies, Inc. (AKAM) opened at 46.82 on Tuesday. Akamai Technologies, Inc. has a 12-month low of $45.41 and a 12-month high of $71.64. The firm’s 50-day moving average price is $49.30 and its 200 day moving average price is $55.77. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 26.74 and a beta of 0.66.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The firm had revenue of $608.90 million for the quarter, compared to analysts’ expectations of $604.51 million. During the same period in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Akamai Technologies, Inc. will post $2.52 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and set a $60.00 price objective on shares of Akamai Technologies in a research note on Friday, July 28th. Cowen and Company reissued a “hold” rating and set a $60.00 price objective on shares of Akamai Technologies in a research note on Friday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $54.00 price objective (down from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Oppenheimer Holdings, Inc. reduced their price objective on Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, July 26th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $56.00 price objective (down from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.76.

In other Akamai Technologies news, CEO F Thomson Leighton purchased 20,397 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $49.02 per share, with a total value of $999,860.94. Following the transaction, the chief executive officer now directly owns 247,454 shares of the company’s stock, valued at approximately $12,130,195.08. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederic V. Salerno purchased 5,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were acquired at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the completion of the transaction, the director now directly owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. Insiders have acquired a total of 66,410 shares of company stock worth $3,233,594 over the last three months. Insiders own 3.20% of the company’s stock.

About Akamai Technologies

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

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