Akamai Technologies, Inc. (AKAM) Holdings Reduced by Highbridge Capital Management LLC
Highbridge Capital Management LLC reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 70.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,312 shares of the technology infrastructure company’s stock after selling 284,488 shares during the period. Highbridge Capital Management LLC owned 0.07% of Akamai Technologies worth $5,812,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC increased its stake in Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 168 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $117,000. BB&T Investment Services Inc. acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $119,000. FTB Advisors Inc. boosted its holdings in shares of Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after acquiring an additional 59 shares during the period. Finally, Tobam acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $153,000. Institutional investors own 86.56% of the company’s stock.
In other news, insider Rick M. Mcconnell sold 2,743 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total value of $150,865.00. Following the completion of the transaction, the insider now owns 37,010 shares in the company, valued at $2,035,550. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Aaron Ahola sold 2,893 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the transaction, the senior vice president now owns 8,046 shares of the company’s stock, valued at approximately $421,932.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,181 shares of company stock valued at $1,614,560. Corporate insiders own 3.20% of the company’s stock.
Several research firms have recently weighed in on AKAM. SunTrust Banks reissued a “hold” rating and issued a $60.00 price objective on shares of Akamai Technologies in a report on Thursday, December 7th. Piper Jaffray Companies reissued a “buy” rating and issued a $59.00 price objective on shares of Akamai Technologies in a report on Monday, December 4th. MKM Partners increased their price objective on Akamai Technologies to $65.00 and gave the company a “buy” rating in a report on Friday, December 1st. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $53.00 to $54.00 in a report on Monday, October 2nd. Finally, B. Riley reissued a “buy” rating and issued a $70.00 price objective (up from $60.00) on shares of Akamai Technologies in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. Akamai Technologies currently has an average rating of “Hold” and an average target price of $59.59.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $56.55 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $71.64. The firm has a market capitalization of $9,557.07, a price-to-earnings ratio of 29.43, a P/E/G ratio of 2.23 and a beta of 0.68.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. analysts anticipate that Akamai Technologies, Inc. will post 1.89 EPS for the current year.
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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