Northeast Investment Management Has $13.92 Million Holdings in Akamai Technologies, Inc. (AKAM)

Northeast Investment Management lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 285,620 shares of the technology infrastructure company’s stock after selling 38,201 shares during the quarter. Northeast Investment Management owned 0.17% of Akamai Technologies worth $13,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank boosted its stake in shares of Akamai Technologies by 2.8% during the 2nd quarter. Swiss National Bank now owns 631,319 shares of the technology infrastructure company’s stock worth $31,446,000 after acquiring an additional 17,300 shares in the last quarter. FIL Ltd boosted its stake in shares of Akamai Technologies by 63.5% during the 2nd quarter. FIL Ltd now owns 1,859,231 shares of the technology infrastructure company’s stock worth $92,609,000 after acquiring an additional 722,170 shares in the last quarter. Globeflex Capital L P boosted its stake in shares of Akamai Technologies by 79.2% during the 2nd quarter. Globeflex Capital L P now owns 32,800 shares of the technology infrastructure company’s stock worth $1,634,000 after acquiring an additional 14,500 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Akamai Technologies by 12.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 39,290 shares of the technology infrastructure company’s stock worth $1,957,000 after acquiring an additional 4,340 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Akamai Technologies by 6.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 508,495 shares of the technology infrastructure company’s stock worth $25,328,000 after acquiring an additional 29,082 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors.

AKAM has been the topic of several research analyst reports. Wells Fargo & Company set a $57.00 price target on Akamai Technologies and gave the stock a “hold” rating in a research note on Tuesday, October 10th. B. Riley reissued a “buy” rating and set a $66.00 price target on shares of Akamai Technologies in a research note on Thursday, October 12th. Credit Suisse Group boosted their price target on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Nomura boosted their price target on Akamai Technologies from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Vetr raised Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 price target on the stock in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $60.59.

Akamai Technologies, Inc. (AKAM) opened at $56.44 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The stock has a market capitalization of $9,600.00, a P/E ratio of 29.06, a P/E/G ratio of 2.21 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. analysts predict that Akamai Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

In other Akamai Technologies news, CEO F Thomson Leighton purchased 19,670 shares of the business’s stock in a transaction on Monday, October 16th. The stock was bought at an average cost of $50.83 per share, for a total transaction of $999,826.10. Following the acquisition, the chief executive officer now owns 226,950 shares of the company’s stock, valued at approximately $11,535,868.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The disclosure for this sale can be found here. Insiders sold a total of 31,181 shares of company stock valued at $1,614,560 over the last quarter. 3.20% of the stock is currently owned by insiders.

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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 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.

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

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