Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by CSat Investment Advisory L.P.

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CSat Investment Advisory L.P. trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,627 shares of the technology infrastructure company’s stock after selling 509 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Akamai Technologies were worth $1,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in shares of Akamai Technologies by 340.9% in the first quarter. Nordea Investment Management AB now owns 1,824,655 shares of the technology infrastructure company’s stock valued at $130,846,000 after acquiring an additional 1,410,848 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Akamai Technologies by 15.1% during the second quarter. AQR Capital Management LLC now owns 5,061,401 shares of the technology infrastructure company’s stock worth $402,178,000 after purchasing an additional 664,795 shares during the period. Clearbridge Investments LLC increased its position in shares of Akamai Technologies by 5.1% in the first quarter. Clearbridge Investments LLC now owns 8,392,790 shares of the technology infrastructure company’s stock valued at $601,847,000 after buying an additional 410,681 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Akamai Technologies by 1.8% in the second quarter. Vanguard Group Inc. now owns 17,132,153 shares of the technology infrastructure company’s stock valued at $1,372,971,000 after buying an additional 307,796 shares in the last quarter. Finally, Martingale Asset Management L P increased its position in shares of Akamai Technologies by 502.6% in the first quarter. Martingale Asset Management L P now owns 358,137 shares of the technology infrastructure company’s stock valued at $25,683,000 after buying an additional 298,703 shares in the last quarter. 87.30% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Edward J. Mcgowan sold 3,247 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total value of $289,242.76. Following the sale, the chief financial officer now owns 8,795 shares of the company’s stock, valued at approximately $783,458.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Adam Karon sold 3,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $85.00, for a total value of $297,500.00. Following the completion of the sale, the executive vice president now directly owns 9,418 shares in the company, valued at approximately $800,530. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

NASDAQ:AKAM traded up $0.17 during midday trading on Friday, reaching $89.43. 1,252,007 shares of the company traded hands, compared to its average volume of 1,509,945. Akamai Technologies, Inc. has a twelve month low of $57.18 and a twelve month high of $93.12. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 1.89 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 2.95. The company has a fifty day moving average price of $88.67 and a 200 day moving average price of $80.18.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $705.07 million during the quarter, compared to analyst estimates of $695.88 million. During the same quarter in the previous year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Akamai Technologies, Inc. will post 3.31 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on AKAM shares. Piper Jaffray Companies set a $97.00 price target on Akamai Technologies and gave the company a “buy” rating in a research report on Monday, August 12th. Cowen set a $93.00 price target on Akamai Technologies and gave the company a “hold” rating in a research report on Wednesday, July 31st. ValuEngine cut Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada set a $83.00 price target on Akamai Technologies and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Credit Suisse Group increased their price objective on Akamai Technologies from $75.00 to $81.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target 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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