Teachers Advisors LLC reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,196 shares of the technology infrastructure company’s stock after selling 55,268 shares during the period. Teachers Advisors LLC owned about 0.10% of Akamai Technologies worth $9,655,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in AKAM. LS Investment Advisors LLC increased its position in shares of Akamai Technologies by 12.9% in the second quarter. LS Investment Advisors LLC now owns 6,785 shares of the technology infrastructure company’s stock worth $379,000 after buying an additional 775 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Akamai Technologies by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock worth $159,000 after buying an additional 24 shares during the period. CWM LLC acquired a new stake in Akamai Technologies during the second quarter worth $2,761,000. Profit Investment Management LLC increased its stake in Akamai Technologies by 1.8% in the second quarter. Profit Investment Management LLC now owns 10,602 shares of the technology infrastructure company’s stock worth $593,000 after buying an additional 185 shares during the period. Finally, Shell Asset Management Co. increased its stake in Akamai Technologies by 47.9% in the second quarter. Shell Asset Management Co. now owns 12,934 shares of the technology infrastructure company’s stock worth $723,000 after buying an additional 4,189 shares during the period. 90.61% of the stock is owned by institutional investors.
Akamai Technologies, Inc. (NASDAQ:AKAM) traded up 0.68% during trading on Wednesday, reaching $70.76. 254,207 shares of the company were exchanged. Akamai Technologies, Inc. has a one year low of $39.43 and a one year high of $71.64. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 40.18 and a beta of 0.92. The firm’s 50 day moving average price is $66.74 and its 200-day moving average price is $58.61.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, October 25th. The technology infrastructure company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.07. The firm had revenue of $584.10 million for the quarter, compared to the consensus estimate of $571.92 million. Akamai Technologies had a net margin of 13.59% and a return on equity of 11.61%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. On average, equities research analysts predict that Akamai Technologies, Inc. will post $2.67 earnings per share for the current year.
A number of research firms recently weighed in on AKAM. Wells Fargo & Company began coverage on shares of Akamai Technologies in a research note on Wednesday. They set an “outperform” rating for the company. B. Riley reissued a “buy” rating and set a $75.00 price target on shares of Akamai Technologies in a research note on Sunday. Guggenheim began coverage on shares of Akamai Technologies in a research note on Thursday, December 22nd. They set a “buy” rating and a $75.00 price target for the company. Cowen and Company reissued 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 report on Thursday, December 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies currently has a consensus rating of “Buy” and an average target price of $64.11.
In related news, Director Paul Sagan sold 18,667 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $67.81, for a total value of $1,265,809.27. Following the transaction, the director now directly owns 60,489 shares of the company’s stock, valued at approximately $4,101,759.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rick M. Mcconnell sold 12,899 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $57.98, for a total transaction of $747,884.02. Following the completion of the transaction, the insider now directly owns 34,812 shares in the company, valued at $2,018,399.76. The disclosure for this sale can be found here. Company 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.
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