Akamai Technologies, Inc. (AKAM) Position Cut by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,683 shares of the technology infrastructure company’s stock after selling 21,306 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.18% of Akamai Technologies worth $15,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in AKAM. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Akamai Technologies by 79.4% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after buying an additional 1,032 shares in the last quarter. Tobam acquired a new position in shares of Akamai Technologies in the second quarter valued at about $153,000. Pier 88 Investment Partners LLC increased its holdings in shares of Akamai Technologies by 383.1% in the second quarter. Pier 88 Investment Partners LLC now owns 3,657 shares of the technology infrastructure company’s stock valued at $182,000 after purchasing an additional 2,900 shares during the period. FNY Partners Fund LP acquired a new position in shares of Akamai Technologies in the first quarter valued at about $202,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Akamai Technologies in the second quarter valued at about $212,000. 84.49% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on AKAM. Instinet reissued a “neutral” rating and issued a $47.00 price objective on shares of Akamai Technologies in a report on Friday. 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. Stifel Nicolaus reissued a “hold” rating and issued a $56.00 price objective on shares of Akamai Technologies in a report on Thursday, September 14th. Vetr lowered Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a report on Wednesday, September 13th. Finally, Nomura cut their price objective on Akamai Technologies from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, September 5th. Two 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. Akamai Technologies presently has a consensus rating of “Hold” and a consensus target price of $60.28.
In related news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $49.81, for a total value of $498,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton purchased 21,554 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 46,371 shares of company stock worth $2,245,016. Insiders own 3.20% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ AKAM) opened at 50.63 on Friday. The stock has a 50 day moving average price of $47.26 and a 200 day moving average price of $51.10. Akamai Technologies, Inc. has a 52-week low of $44.65 and a 52-week high of $71.64. The stock has a market cap of $8.68 billion, a P/E ratio of 28.91 and a beta of 0.65.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $608.90 million for the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Akamai Technologies, Inc. will post $2.52 EPS for the current year.
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Akamai Technologies 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.
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