Akamai Technologies, Inc. (AKAM) Shares Sold by State of Wisconsin Investment Board
State of Wisconsin Investment Board cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 145,221 shares of the technology infrastructure company’s stock after selling 30,250 shares during the period. State of Wisconsin Investment Board owned approximately 0.08% of Akamai Technologies worth $7,233,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in Akamai Technologies during the first quarter worth $111,000. Whittier Trust Co. boosted its stake in Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock worth $134,000 after buying an additional 501 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after buying an additional 1,032 shares during the period. SpiderRock Advisors LLC acquired a new stake in Akamai Technologies during the first quarter worth $145,000. Finally, Creative Planning boosted its stake in 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 period. Institutional investors and hedge funds own 84.48% of the company’s stock.
Shares of Akamai Technologies, Inc. (AKAM) opened at 45.14 on Tuesday. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 25.78 and a beta of 0.66. The stock’s 50 day moving average price is $48.14 and its 200 day moving average price is $54.46.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate 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 business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Equities research analysts expect that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. B. Riley restated a “buy” rating and issued a $66.00 price target on shares of Akamai Technologies in a research note on Wednesday, May 3rd. BidaskClub cut Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Instinet assumed coverage on Akamai Technologies in a research note on Thursday, May 25th. They issued a “neutral” rating and a $47.62 price target on the stock. Stifel Nicolaus restated a “hold” rating and issued a $56.00 price target (down previously from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Finally, JMP Securities restated an “outperform” rating and issued a $75.00 price target (down previously from $77.00) on shares of Akamai Technologies in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Akamai Technologies currently has a consensus rating of “Hold” and an average price target of $62.76.
In other Akamai Technologies news, CEO F Thomson Leighton purchased 19,817 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were acquired at an average cost of $50.45 per share, with a total value of $999,767.65. Following the completion of the acquisition, the chief executive officer now directly owns 205,861 shares in the company, valued at $10,385,687.45. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the sale, the director now directly owns 64,147 shares in the company, valued at $3,177,200.91. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 87,964 shares of company stock worth $4,244,692. Insiders own 3.20% of the company’s stock.
Akamai Technologies Company 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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