New York State Common Retirement Fund Has $18.10 Million Holdings in Akamai Technologies, Inc. (AKAM)
New York State Common Retirement Fund raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 371,600 shares of the technology infrastructure company’s stock after buying an additional 2,200 shares during the quarter. New York State Common Retirement Fund owned 0.22% of Akamai Technologies worth $18,104,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its holdings in shares of 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 in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Akamai Technologies in the second quarter worth about $117,000. BB&T Investment Services Inc. bought a new stake in shares of Akamai Technologies in the second quarter worth about $119,000. FTB Advisors Inc. increased its holdings 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 worth $125,000 after acquiring an additional 59 shares in the last quarter. Finally, Tobam bought a new stake in shares of Akamai Technologies in the second quarter worth about $153,000. 86.56% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on AKAM shares. Wells Fargo & Company set a $57.00 price target on Akamai Technologies and gave the stock a “hold” rating in a report on Tuesday, October 10th. Robert W. Baird restated a “hold” rating and issued a $52.00 price target on shares of Akamai Technologies in a report on Friday, September 1st. Credit Suisse Group started coverage on Akamai Technologies in a report on Tuesday, September 5th. They issued a “neutral” rating and a $50.00 price target for the company. DA Davidson set a $57.00 price target on Akamai Technologies and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded Akamai Technologies from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $59.59.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $56.76 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a market capitalization of $9,645.03, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 2.26 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. equities research analysts predict that Akamai Technologies, Inc. will post 1.89 EPS for the current year.
In other news, insider Rick M. Mcconnell sold 2,743 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total value of $150,865.00. Following the completion of the sale, the insider now directly owns 37,010 shares of the company’s stock, valued at $2,035,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Aaron Ahola sold 2,893 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the sale, the senior vice president now directly owns 8,046 shares of the company’s stock, valued at $421,932.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,181 shares of company stock valued at $1,614,560. 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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