Candriam Luxembourg S.C.A. increased its stake in Akamai Technologies Inc. (NASDAQ:AKAM) by 18.0% during the second quarter, Holdings Channel reports. The firm owned 17,225 shares of the technology infrastructure company’s stock after buying an additional 2,627 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Akamai Technologies were worth $963,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp increased its stake in shares of Akamai Technologies by 16.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 112,800 shares of the technology infrastructure company’s stock valued at $6,268,000 after buying an additional 15,700 shares during the period. Wexford Capital LP acquired a new stake in Akamai Technologies during the first quarter valued at about $516,000. Aviva PLC increased its stake in Akamai Technologies by 1.3% in the first quarter. Aviva PLC now owns 84,532 shares of the technology infrastructure company’s stock valued at $4,697,000 after buying an additional 1,097 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Akamai Technologies during the first quarter valued at about $3,677,000. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Akamai Technologies during the first quarter valued at about $747,000. 89.88% of the stock is owned by institutional investors.
Akamai Technologies Inc. (NASDAQ:AKAM) traded up 0.16% on Friday, reaching $54.95. The company’s stock had a trading volume of 1,162,359 shares. The stock has a market cap of $9.60 billion, a P/E ratio of 30.16 and a beta of 1.49. Akamai Technologies Inc. has a one year low of $39.43 and a one year high of $76.39. The stock has a 50-day moving average of $53.41 and a 200-day moving average of $53.25.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The firm had revenue of $572 million for the quarter, compared to analysts’ expectations of $574.86 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Akamai Technologies Inc. will post $2.57 EPS for the current fiscal year.
AKAM has been the subject of several research reports. Pacific Crest reissued a “buy” rating and issued a $71.00 price target on shares of Akamai Technologies in a research report on Monday, July 11th. MKM Partners reissued a “buy” rating and issued a $68.00 price target on shares of Akamai Technologies in a research report on Saturday, July 9th. Deutsche Bank AG reissued a “buy” rating on shares of Akamai Technologies in a research report on Wednesday, June 15th. B. Riley reissued a “buy” rating and issued a $62.00 price target on shares of Akamai Technologies in a research report on Wednesday, July 27th. Finally, SunTrust Banks Inc. initiated coverage on shares of Akamai Technologies in a research report on Thursday, July 21st. They issued a “buy” rating and a $66.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $61.50.
In related news, insider Rick M. Mcconnell sold 3,550 shares of the stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $58.00, for a total transaction of $205,900.00. Following the sale, the insider now directly owns 48,926 shares of the company’s stock, valued at $2,837,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Sagan sold 23,255 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $51.33, for a total value of $1,193,679.15. Following the sale, the director now directly owns 65,077 shares in the company, valued at $3,340,402.41. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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