Akamai Technologies, Inc. (AKAM) Shares Bought by Voya Investment Management LLC
Voya Investment Management LLC increased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,528 shares of the technology infrastructure company’s stock after purchasing an additional 9,022 shares during the quarter. Voya Investment Management LLC owned approximately 0.06% of Akamai Technologies worth $6,923,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in AKAM. Federated Investors Inc. PA bought a new stake in Akamai Technologies during the 1st quarter valued at $225,000. Oppenheimer Asset Management Inc. boosted its position in Akamai Technologies by 35.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,529 shares of the technology infrastructure company’s stock valued at $605,000 after acquiring an additional 2,248 shares in the last quarter. IFP Advisors Inc boosted its position in Akamai Technologies by 143.4% during the 1st quarter. IFP Advisors Inc now owns 1,743 shares of the technology infrastructure company’s stock valued at $124,000 after acquiring an additional 1,027 shares in the last quarter. Toronto Dominion Bank boosted its position in Akamai Technologies by 25.5% during the 1st quarter. Toronto Dominion Bank now owns 91,596 shares of the technology infrastructure company’s stock valued at $6,501,000 after acquiring an additional 18,598 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its position in Akamai Technologies by 2.9% during the 1st quarter. First Republic Investment Management Inc. now owns 23,987 shares of the technology infrastructure company’s stock valued at $1,702,000 after acquiring an additional 670 shares in the last quarter. 85.99% of the stock is currently owned by institutional investors.
AKAM has been the topic of several recent research reports. Credit Suisse Group reaffirmed a “neutral” rating and set a $84.00 target price (down previously from $88.00) on shares of Akamai Technologies in a research report on Monday, August 13th. DA Davidson raised Akamai Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $82.00 to $93.00 in a research report on Monday, September 10th. B. Riley dropped their target price on Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating on the stock in a research report on Monday, July 23rd. TheStreet cut Akamai Technologies from a “b-” rating to a “c+” rating in a research report on Friday, August 10th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $77.00 target price on shares of Akamai Technologies in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $77.29.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. The firm had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $661.13 million. Akamai Technologies had a return on equity of 10.63% and a net margin of 6.74%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 EPS. equities research analysts expect that Akamai Technologies, Inc. will post 2.47 EPS for the current fiscal year.
In related news, Director Paul Sagan sold 39,100 shares of the firm’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $76.09, for a total value of $2,975,119.00. Following the completion of the transaction, the director now owns 154,278 shares in the company, valued at approximately $11,739,013.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adam Karon sold 10,000 shares of the firm’s stock in a transaction on Friday, July 6th. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the executive vice president now owns 13,035 shares of the company’s stock, valued at approximately $977,625. The disclosure for this sale can be found here. Insiders sold a total of 154,313 shares of company stock valued at $11,800,812 in the last three months. Insiders own 3.20% of the company’s stock.
Akamai Technologies 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.
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