Akamai Technologies, Inc. (NASDAQ:AKAM) Stake Cut by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,606 shares of the technology infrastructure company’s stock after selling 161 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Akamai Technologies were worth $1,674,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of Akamai Technologies by 49.0% in the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock valued at $151,931,000 after buying an additional 836,384 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock valued at $203,324,000 after buying an additional 780,019 shares during the period. Clearbridge Investments LLC boosted its position in shares of Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock valued at $368,794,000 after buying an additional 717,811 shares during the period. FIL Ltd boosted its position in shares of Akamai Technologies by 107.0% in the first quarter. FIL Ltd now owns 1,137,061 shares of the technology infrastructure company’s stock valued at $67,883,000 after buying an additional 587,754 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of Akamai Technologies during the first quarter valued at about $34,751,000. 87.19% of the stock is owned by institutional investors and hedge funds.
Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at 46.37 on Friday. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 26.48 and a beta of 0.66. Akamai Technologies, Inc. has a 12 month low of $45.41 and a 12 month high of $71.64. The company’s 50-day moving average is $49.43 and its 200 day moving average is $56.10.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. During the same period last year, the firm posted $0.64 EPS. Akamai Technologies’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.
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AKAM has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Akamai Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 8th. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $58.00 target price (down from $62.00) on shares of Akamai Technologies in a report on Wednesday, May 3rd. Morgan Stanley cut shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $68.00 to $54.00 in a report on Thursday, April 27th. Finally, TheStreet cut shares of Akamai Technologies from a “b-” rating to a “c” rating in a report on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $62.76.
In other Akamai Technologies news, Director Frederic V. Salerno purchased 5,000 shares of Akamai Technologies stock in a transaction on Thursday, July 27th. The stock was bought at an average cost of $46.83 per share, with a total value of $234,150.00. Following the transaction, the director now owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO F Thomson Leighton purchased 19,817 shares of Akamai Technologies 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 transaction, the chief executive officer now directly owns 205,861 shares in the company, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. Insiders have acquired a total of 66,410 shares of company stock valued at $3,233,594 over the last three months. 3.20% of the stock is currently owned by insiders.
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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