Akamai Technologies, Inc. (AKAM) Shares Sold by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,460 shares of the technology infrastructure company’s stock after selling 1,653 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Akamai Technologies were worth $2,296,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Advantage Investment Management LLC bought a new position in Akamai Technologies during the fourth quarter valued at about $105,000. Acrospire Investment Management LLC boosted its stake in shares of Akamai Technologies by 16.7% in the third quarter. Acrospire Investment Management LLC now owns 2,100 shares of the technology infrastructure company’s stock worth $111,000 after buying an additional 300 shares during the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $134,000. Parallel Advisors LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $140,000. Finally, Creative Planning boosted its stake in shares of Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock worth $160,000 after buying an additional 572 shares during the last quarter. Institutional investors own 91.07% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 60.20 on Friday. The stock’s 50 day moving average is $61.78 and its 200 day moving average is $64.14. The company has a market capitalization of $10.43 billion, a PE ratio of 33.63 and a beta of 0.95. Akamai Technologies, Inc. has a 52 week low of $47.80 and a 52 week high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 7th. The technology infrastructure company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Akamai Technologies had a return on equity of 11.45% and a net margin of 13.51%. The business earned $616 million during the quarter, compared to the consensus estimate of $605.57 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. Akamai Technologies’s revenue was up 6.4% compared to the same quarter last year. Analysts predict that Akamai Technologies, Inc. will post $2.72 EPS for the current fiscal year.
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Several research firms recently issued reports on AKAM. Stifel Nicolaus reissued a “hold” rating and set a $62.00 price target (down from $65.00) on shares of Akamai Technologies in a report on Sunday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price target (down from $67.00) on shares of Akamai Technologies in a report on Wednesday, February 8th. Zacks Investment Research cut shares of Akamai Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 14th. B. Riley reissued a “buy” rating and set a $75.00 price target on shares of Akamai Technologies in a report on Tuesday, January 3rd. Finally, Drexel Hamilton began coverage on shares of Akamai Technologies in a report on Tuesday, March 21st. They set a “buy” rating and a $90.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $68.94.
In other Akamai Technologies news, EVP James Gemmell sold 2,297 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $63.83, for a total value of $146,617.51. Following the completion of the transaction, the executive vice president now owns 8,738 shares in the company, valued at approximately $557,746.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melanie Haratunian sold 2,164 shares of the company’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $63.83, for a total value of $138,128.12. Following the completion of the transaction, the executive vice president now owns 80,785 shares of the company’s stock, valued at approximately $5,156,506.55. The disclosure for this sale can be found here. Insiders have sold 137,662 shares of company stock valued at $8,814,645 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.
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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