Frontier Capital Management Co. LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 282,203 shares of the technology infrastructure company’s stock after selling 4,784 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.17% of Akamai Technologies worth $18,354,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC lifted its holdings in Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Akamai Technologies during the second quarter worth about $117,000. BB&T Investment Services Inc. bought a new position in Akamai Technologies during the second quarter worth about $119,000. FTB Advisors Inc. lifted its holdings in Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new position in Akamai Technologies during the second quarter worth about $209,000. Hedge funds and other institutional investors own 86.47% of the company’s stock.
Several research analysts have weighed in on AKAM shares. B. Riley lifted their target price on Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 18th. BidaskClub lowered Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Thursday. Morgan Stanley restated a “sell” rating and issued a $52.00 price target on shares of Akamai Technologies in a report on Wednesday, December 27th. Wells Fargo & Co set a $57.00 price target on Akamai Technologies and gave the company a “hold” rating in a report on Tuesday, October 10th. Finally, Credit Suisse Group boosted their price target on Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $63.84.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $621.00 million for 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 was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. equities analysts forecast that Akamai Technologies, Inc. will post 1.89 EPS for the current year.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 3,966 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $54.19, for a total transaction of $214,917.54. Following the transaction, the insider now owns 39,753 shares of the company’s stock, valued at $2,154,215.07. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Aaron Ahola sold 2,893 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $52.44, for a total value of $151,708.92. Following the transaction, the senior vice president now directly owns 8,046 shares in the company, valued at approximately $421,932.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,971 shares of company stock worth $4,141,642. Company insiders own 3.20% of the company’s stock.
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 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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