Crossmark Global Holdings Inc. Acquires New Holdings in Akamai Technologies, Inc. (AKAM)
Crossmark Global Holdings Inc. acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,693 shares of the technology infrastructure company’s stock, valued at approximately $1,057,000.
Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC raised its holdings in shares of Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies during the second quarter worth $117,000. BB&T Investment Services Inc. purchased a new stake in shares of Akamai Technologies during the second quarter worth $119,000. FTB Advisors Inc. raised its holdings in shares of Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares in the last quarter. Finally, Tobam purchased a new stake in shares of Akamai Technologies during the second quarter worth $153,000. Institutional investors and hedge funds own 84.41% of the company’s stock.
In related news, EVP Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $53.11, for a total transaction of $212,440.00. Following the sale, the executive vice president now directly owns 22,364 shares of the company’s stock, valued at $1,187,752.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Aaron Ahola sold 2,893 shares of Akamai Technologies stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $52.44, for a total value of $151,708.92. Following the sale, the senior vice president now directly owns 8,046 shares in the company, valued at $421,932.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,438 shares of company stock worth $1,463,695. 3.20% of the stock is owned by company insiders.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $54.26 on Friday. Akamai Technologies, Inc. has a 1 year low of $44.65 and a 1 year high of $71.64. The firm has a market capitalization of $9,108.82, a PE ratio of 28.05, a P/E/G ratio of 2.14 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.10 and a current ratio of 3.01.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. During the same period last year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. analysts anticipate that Akamai Technologies, Inc. will post 1.88 EPS for the current year.
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Several analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $60.00 price objective on shares of Akamai Technologies in a report on Friday, July 28th. BidaskClub lowered Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $57.00 price objective on shares of Akamai Technologies in a report on Wednesday, July 26th. SunTrust Banks, Inc. reiterated a “hold” rating on shares of Akamai Technologies in a report on Wednesday, October 25th. Finally, Cowen and Company reiterated a “hold” rating and set a $60.00 price objective on shares of Akamai Technologies in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $60.73.
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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