Dundas Partners LLP Sells 17,351 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

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Dundas Partners LLP reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 95,824 shares of the technology infrastructure company’s stock after selling 17,351 shares during the quarter. Akamai Technologies comprises approximately 1.8% of Dundas Partners LLP’s holdings, making the stock its 28th largest holding. Dundas Partners LLP’s holdings in Akamai Technologies were worth $7,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Akamai Technologies by 259.3% during the second quarter. Bessemer Group Inc. now owns 1,581 shares of the technology infrastructure company’s stock worth $126,000 after purchasing an additional 1,141 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Akamai Technologies by 0.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 42,139 shares of the technology infrastructure company’s stock worth $3,022,000 after purchasing an additional 377 shares during the last quarter. Wakefield Asset Management LLLP lifted its position in shares of Akamai Technologies by 9.7% during the first quarter. Wakefield Asset Management LLLP now owns 33,902 shares of the technology infrastructure company’s stock worth $2,431,000 after purchasing an additional 3,007 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Akamai Technologies by 20.6% during the first quarter. Advisor Group Inc. now owns 56,209 shares of the technology infrastructure company’s stock worth $4,030,000 after purchasing an additional 9,617 shares during the last quarter. Finally, S&CO Inc. bought a new stake in shares of Akamai Technologies during the first quarter worth $513,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 3,247 shares of Akamai Technologies stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total value of $289,242.76. Following the transaction, the chief financial officer now owns 8,795 shares in the company, valued at $783,458.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic V. Salerno sold 3,000 shares of Akamai Technologies stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $77.74, for a total value of $233,220.00. Following the completion of the transaction, the director now owns 68,919 shares in the company, valued at approximately $5,357,763.06. The disclosure for this sale can be found here. Insiders sold 21,247 shares of company stock worth $1,715,963 in the last quarter. 2.40% of the stock is owned by insiders.

AKAM opened at $89.37 on Wednesday. The company has a 50-day moving average of $83.75. Akamai Technologies, Inc. has a 1 year low of $57.18 and a 1 year high of $90.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 3.19. The stock has a market capitalization of $14.31 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 1.86 and a beta of 0.62.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.30. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The company had revenue of $705.07 million for the quarter, compared to analyst estimates of $695.88 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Akamai Technologies, Inc. will post 3.29 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the company. Guggenheim downgraded Akamai Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. KeyCorp lifted their target price on Akamai Technologies from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Oppenheimer raised their price target on Akamai Technologies from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Nomura raised their price target on Akamai Technologies from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Piper Jaffray Companies set a $97.00 price target on Akamai Technologies and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $87.81.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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