Endurance Wealth Management Inc. Increases Holdings in Akamai Technologies, Inc. (AKAM)
Endurance Wealth Management Inc. boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 182,758 shares of the technology infrastructure company’s stock after purchasing an additional 4,086 shares during the period. Akamai Technologies makes up 1.9% of Endurance Wealth Management Inc.’s portfolio, making the stock its 16th largest position. Endurance Wealth Management Inc.’s holdings in Akamai Technologies were worth $11,887,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in AKAM. Advisory Services Network LLC raised its position in Akamai Technologies by 9.0% in 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 during the period. Westwood Holdings Group Inc. bought a new stake in shares of Akamai Technologies in the second quarter valued at approximately $117,000. BB&T Investment Services Inc. bought a new stake in shares of Akamai Technologies in the second quarter valued at approximately $119,000. FTB Advisors Inc. raised its position in shares of Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after purchasing an additional 59 shares during the period. Finally, Griffin Asset Management Inc. bought a new stake in shares of Akamai Technologies in the second quarter valued at approximately $209,000. 86.36% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Piper Jaffray Companies reissued a “buy” rating and issued a $60.00 price target on shares of Akamai Technologies in a research report on Wednesday, October 25th. SunTrust Banks reissued a “hold” rating on shares of Akamai Technologies in a research report on Wednesday, October 25th. Deutsche Bank reissued a “buy” rating and issued a $75.00 price target on shares of Akamai Technologies in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $62.00 price target (up previously from $57.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.84.
Shares of Akamai Technologies, Inc. (NASDAQ AKAM) traded up $0.90 during trading hours on Thursday, reaching $65.40. 1,144,900 shares of the company traded hands, compared to its average volume of 2,120,891. The stock has a market capitalization of $10,990.00, a PE ratio of 39.16, a P/E/G ratio of 2.60 and a beta of 0.68. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.34. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $610.66 million. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. equities analysts anticipate that Akamai Technologies, Inc. will post 1.89 earnings per share for the current year.
In other Akamai Technologies news, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the completion of the transaction, the insider now owns 32,319 shares of the company’s stock, valued at approximately $2,142,426.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO F Thomson Leighton purchased 17,537 shares of the business’s stock in a transaction on Friday, December 15th. The stock was bought at an average cost of $57.01 per share, with a total value of $999,784.37. The disclosure for this purchase can be found here. In the last three months, insiders sold 71,971 shares of company stock valued at $4,141,642. Corporate insiders own 3.20% of the company’s stock.
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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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