The Manufacturers Life Insurance Company reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,041 shares of the technology infrastructure company’s stock after selling 24,140 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Akamai Technologies were worth $12,621,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Keybank National Association OH lifted its holdings in Akamai Technologies by 22.8% in the fourth quarter. Keybank National Association OH now owns 6,982 shares of the technology infrastructure company’s stock worth $454,000 after buying an additional 1,297 shares during the period. Forsta AP Fonden lifted its holdings in Akamai Technologies by 9.3% in the fourth quarter. Forsta AP Fonden now owns 575,694 shares of the technology infrastructure company’s stock worth $37,443,000 after buying an additional 48,800 shares during the period. Hourglass Capital LLC purchased a new stake in Akamai Technologies in the fourth quarter worth about $260,000. NuWave Investment Management LLC purchased a new stake in Akamai Technologies in the fourth quarter worth about $390,000. Finally, KBC Group NV lifted its holdings in Akamai Technologies by 57.8% in the fourth quarter. KBC Group NV now owns 86,786 shares of the technology infrastructure company’s stock worth $5,645,000 after buying an additional 31,787 shares during the period. Institutional investors own 84.77% of the company’s stock.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $67.46 on Thursday. The firm has a market cap of $11,410.00, a P/E ratio of 47.84, a P/E/G ratio of 2.44 and a beta of 0.70. The company has a current ratio of 2.82, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies, Inc. has a 1 year low of $44.65 and a 1 year high of $69.56.
In other Akamai Technologies news, EVP James Gemmell sold 8,430 shares of Akamai Technologies stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $67.00, for a total value of $564,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO F Thomson Leighton bought 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. Insiders have sold 66,799 shares of company stock valued at $3,976,520 in the last three months. 3.20% of the stock is owned by insiders.
Several analysts have commented on AKAM shares. TheStreet upgraded shares of Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. MKM Partners raised their price objective 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 restated a “buy” rating and issued a $59.00 price objective on shares of Akamai Technologies in a report on Monday, December 4th. SunTrust Banks reaffirmed a “hold” rating and set a $60.00 target price on shares of Akamai Technologies in a research note on Thursday, December 7th. Finally, Credit Suisse Group raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $69.03.
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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