Sterling Capital Management LLC increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,439,744 shares of the technology infrastructure company’s stock after purchasing an additional 17,892 shares during the quarter. Sterling Capital Management LLC owned 0.85% of Akamai Technologies worth $70,144,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of AKAM. Canada Pension Plan Investment Board raised its holdings in Akamai Technologies by 198.3% during the second quarter. Canada Pension Plan Investment Board now owns 41,238 shares of the technology infrastructure company’s stock worth $2,054,000 after purchasing an additional 27,412 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Akamai Technologies by 20.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 657,615 shares of the technology infrastructure company’s stock worth $32,756,000 after acquiring an additional 111,630 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of Akamai Technologies in the second quarter worth $555,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Akamai Technologies by 216.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 229,036 shares of the technology infrastructure company’s stock worth $11,408,000 after acquiring an additional 156,617 shares during the last quarter. Finally, Denver Investment Advisors LLC raised its holdings in shares of Akamai Technologies by 70.6% in the second quarter. Denver Investment Advisors LLC now owns 5,850 shares of the technology infrastructure company’s stock worth $291,000 after acquiring an additional 2,420 shares during the last quarter. 86.56% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO F Thomson Leighton purchased 18,545 shares of the stock in a transaction on Wednesday, November 15th. The stock was purchased at an average price of $53.91 per share, with a total value of $999,760.95. Following the completion of the transaction, the chief executive officer now owns 226,950 shares in the company, valued at $12,234,874.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rick M. Mcconnell sold 2,743 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $55.00, for a total value of $150,865.00. Following the sale, the insider now directly owns 37,010 shares of the company’s stock, valued at approximately $2,035,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,181 shares of company stock valued at $1,614,560. Company insiders own 3.20% of the company’s stock.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. analysts expect that Akamai Technologies, Inc. will post 1.89 EPS for the current year.
A number of research firms have recently weighed in on AKAM. Piper Jaffray Companies reissued a “buy” rating and issued a $59.00 price target on shares of Akamai Technologies in a report on Monday, December 4th. MKM Partners boosted their price target on Akamai Technologies to $65.00 and gave the stock a “buy” rating in a report on Friday, December 1st. SunTrust Banks reissued a “hold” rating and issued a $60.00 price target on shares of Akamai Technologies in a report on Thursday, December 7th. TheStreet raised Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. Finally, Credit Suisse Group boosted their price target on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.59.
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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