Exxonmobil Investment Management Inc. TX trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.1% during the fourth quarter, HoldingsChannel reports. The firm owned 26,896 shares of the technology infrastructure company’s stock after selling 4,408 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Akamai Technologies were worth $1,749,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Alyeska Investment Group L.P. bought a new stake in Akamai Technologies during the third quarter worth about $65,270,000. Janus Henderson Group PLC raised its holdings in Akamai Technologies by 5,158.8% during the second quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock worth $59,877,000 after acquiring an additional 1,179,251 shares in the last quarter. Fairpointe Capital LLC raised its holdings in Akamai Technologies by 44.0% during the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after acquiring an additional 981,069 shares in the last quarter. ETF Managers Group LLC bought a new stake in Akamai Technologies during the second quarter worth about $45,156,000. Finally, FIL Ltd raised its holdings in Akamai Technologies by 63.5% during the second 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. Institutional investors own 86.36% of the company’s stock.
In other news, insider Rick M. Mcconnell sold 3,966 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $54.19, for a total value of $214,917.54. Following the transaction, the insider now owns 39,753 shares of the company’s stock, valued at $2,154,215.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the completion of the transaction, the insider now directly owns 32,319 shares in the company, valued at approximately $2,142,426.51. The disclosure for this sale can be found here. Insiders sold 71,971 shares of company stock worth $4,141,642 in the last ninety days. 3.20% of the stock is owned by company insiders.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The company had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. sell-side analysts expect that Akamai Technologies, Inc. will post 1.89 EPS for the current fiscal year.
Several analysts recently issued reports on AKAM shares. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. B. Riley reiterated a “buy” rating and set a $70.00 target price (up previously from $60.00) on shares of Akamai Technologies in a report on Wednesday, October 25th. Piper Jaffray Companies reissued a “buy” rating and set a $60.00 price target on shares of Akamai Technologies in a research report on Wednesday, October 25th. Deutsche Bank reissued a “buy” rating and set a $75.00 price target on shares of Akamai Technologies in a research report on Wednesday, October 25th. Finally, Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $54.00 in a research report on Monday, October 2nd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $63.84.
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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