Janney Montgomery Scott LLC Increases Stake in Akamai Technologies, Inc. (AKAM)

Janney Montgomery Scott LLC grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.7% during the second quarter, HoldingsChannel reports. The firm owned 32,870 shares of the technology infrastructure company’s stock after purchasing an additional 3,171 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Akamai Technologies were worth $2,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Akamai Technologies by 470.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,951 shares of the technology infrastructure company’s stock valued at $363,000 after purchasing an additional 4,083 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at about $206,000. Whittier Trust Co. boosted its stake in Akamai Technologies by 61.7% during the second quarter. Whittier Trust Co. now owns 2,266 shares of the technology infrastructure company’s stock worth $138,000 after acquiring an additional 865 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Akamai Technologies during the second quarter worth about $200,000. Finally, Amalgamated Bank boosted its stake in Akamai Technologies by 24.6% during the second quarter. Amalgamated Bank now owns 25,642 shares of the technology infrastructure company’s stock worth $1,878,000 after acquiring an additional 5,066 shares in the last quarter. 86.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Akamai Technologies stock opened at $74.61 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 1.29. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 2.11 and a beta of 0.54. Akamai Technologies, Inc. has a 52-week low of $44.65 and a 52-week high of $83.08.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The business had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $661.13 million. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. research analysts predict that Akamai Technologies, Inc. will post 2.49 EPS for the current year.

AKAM has been the topic of several research reports. B. Riley dropped their price objective on shares of Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating on the stock in a research note on Monday, July 23rd. TheStreet raised shares of Akamai Technologies from a “c+” rating to a “b-” rating in a research note on Wednesday, May 9th. Zacks Investment Research raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, May 4th. ValuEngine raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Akamai Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies has an average rating of “Buy” and an average target price of $76.03.

In other Akamai Technologies news, insider William Wheaton sold 5,000 shares of Akamai Technologies stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the transaction, the insider now directly owns 20,007 shares of the company’s stock, valued at $1,500,525. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Naomi O. Seligman sold 7,855 shares of Akamai Technologies stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $74.00, for a total transaction of $581,270.00. Following the completion of the transaction, the director now directly owns 6,023 shares of the company’s stock, valued at $445,702. The disclosure for this sale can be found here. Insiders sold 120,098 shares of company stock valued at $9,269,248 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

Featured Story: Understanding Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM).

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

Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit