Trexquant Investment LP Acquires Shares of 4,465 Akamai Technologies, Inc. (AKAM)
Trexquant Investment LP purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,465 shares of the technology infrastructure company’s stock, valued at approximately $218,000.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Akamai Technologies by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after purchasing an additional 424,152 shares in the last quarter. First Trust Advisors LP raised its position in Akamai Technologies by 2.3% during the third quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock worth $241,610,000 after acquiring an additional 109,826 shares in the last quarter. Fairpointe Capital LLC increased its holdings in shares of Akamai Technologies by 44.0% in the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock valued at $160,001,000 after purchasing an additional 981,069 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of Akamai Technologies by 13.2% in the second quarter. King Luther Capital Management Corp now owns 2,320,833 shares of the technology infrastructure company’s stock valued at $115,601,000 after purchasing an additional 269,793 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Akamai Technologies by 83.4% in the second quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock valued at $95,080,000 after purchasing an additional 867,795 shares during the last quarter. Institutional investors own 86.57% of the company’s stock.
Several equities analysts recently commented on the stock. SunTrust Banks restated a “hold” rating and issued a $60.00 price target on shares of Akamai Technologies in a research note on Thursday. MKM Partners increased their target price on shares of Akamai Technologies to $65.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Piper Jaffray Companies reissued a “buy” rating and set a $59.00 target price on shares of Akamai Technologies in a research report on Monday, December 4th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $54.00 in a research report on Monday, October 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $70.00 price objective (up previously from $60.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. 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 stock. Akamai Technologies currently has an average rating of “Hold” and an average target price of $59.59.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $56.50 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. 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 $9,546.92, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company 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 firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. equities research analysts forecast that Akamai Technologies, Inc. will post 1.89 EPS for the current fiscal year.
In related news, CEO F Thomson Leighton acquired 19,670 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were purchased at an average price of $50.83 per share, with a total value of $999,826.10. Following the completion of the purchase, the chief executive officer now directly owns 226,950 shares of the company’s stock, valued at $11,535,868.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Aaron Ahola sold 2,893 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 8,046 shares in the company, valued at approximately $421,932.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,181 shares of company stock worth $1,614,560. 3.20% of the stock is owned by insiders.
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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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