Bbva Compass Bancshares Inc. reduced its position in shares of Akamai Technologies Inc. (NASDAQ:AKAM) by 5.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 20,567 shares of the technology infrastructure company’s stock after selling 1,245 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Akamai Technologies were worth $1,150,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in AKAM. Prudential Financial Inc. boosted its stake in shares of Akamai Technologies by 0.4% in the first quarter. Prudential Financial Inc. now owns 244,801 shares of the technology infrastructure company’s stock worth $13,604,000 after buying an additional 900 shares during the period. Franklin Resources Inc. boosted its stake in shares of Akamai Technologies by 118.3% in the first quarter. Franklin Resources Inc. now owns 447,688 shares of the technology infrastructure company’s stock worth $24,878,000 after buying an additional 242,600 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of Akamai Technologies during the first quarter worth $747,000. Aviva PLC boosted its stake in shares of Akamai Technologies by 1.3% in the first quarter. Aviva PLC now owns 84,532 shares of the technology infrastructure company’s stock worth $4,697,000 after buying an additional 1,097 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted 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 worth $6,268,000 after buying an additional 15,700 shares during the period. Hedge funds and other institutional investors own 89.89% of the company’s stock.
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded up 1.29% on Wednesday, reaching $56.64. The company had a trading volume of 1,462,271 shares. Akamai Technologies Inc. has a 12 month low of $39.43 and a 12 month high of $76.39. The stock has a market cap of $9.90 billion, a PE ratio of 31.09 and a beta of 1.49. The stock has a 50-day moving average price of $53.56 and a 200-day moving average price of $53.21.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. The firm had revenue of $572 million for the quarter, compared to the consensus estimate of $574.86 million. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. Analysts predict that Akamai Technologies Inc. will post $2.57 earnings per share for the current fiscal year.
A number of analysts have weighed in on AKAM shares. MKM Partners reiterated a “buy” rating and issued a $68.00 price target on shares of Akamai Technologies in a research report on Saturday, July 9th. Pacific Crest reissued a “buy” rating and issued a $71.00 price objective on shares of Akamai Technologies in a research note on Monday, July 11th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Akamai Technologies in a research note on Sunday, July 17th. SunTrust Banks Inc. began coverage on Akamai Technologies in a research note on Thursday, July 21st. They issued a “buy” rating and a $66.00 price objective on the stock. Finally, B. Riley reissued a “buy” rating and issued a $62.00 price objective on shares of Akamai Technologies in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Akamai Technologies presently has a consensus rating of “Hold” and an average price target of $61.50.
In other Akamai Technologies news, CEO F Thomson Leighton acquired 19,003 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were bought at an average cost of $52.61 per share, with a total value of $999,747.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert Blumofe sold 2,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $50.56, for a total value of $101,120.00. Following the completion of the transaction, the executive vice president now directly owns 22,415 shares in the company, valued at $1,133,302.40. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
About Akamai Technologies
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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