FNY Investment Advisers LLC bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,000 shares of the technology infrastructure company’s stock, valued at approximately $512,000.
Other hedge funds also recently modified their holdings of the company. Exane Derivatives bought a new position in shares of Akamai Technologies during the third quarter valued at approximately $101,000. Flagship Harbor Advisors LLC bought a new position in shares of Akamai Technologies during the second quarter valued at approximately $102,000. Piedmont Investment Advisors LLC bought a new position in shares of Akamai Technologies during the second quarter valued at approximately $142,000. Whittier Trust Co. boosted its stake in shares of Akamai Technologies by 61.7% during the second quarter. Whittier Trust Co. now owns 2,266 shares of the technology infrastructure company’s stock valued at $138,000 after purchasing an additional 865 shares in the last quarter. Finally, S&CO Inc. bought a new position in shares of Akamai Technologies during the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 85.82% of the company’s stock.
A number of research firms have recently issued reports on AKAM. BidaskClub upgraded shares of Akamai Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Deutsche Bank dropped their price objective on shares of Akamai Technologies and set a “hold” rating on the stock in a research note on Thursday, October 4th. ValuEngine downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies reiterated a “buy” rating on shares of Akamai Technologies in a research note on Monday, October 1st. Finally, DA Davidson upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $82.00 to $93.00 in a research note on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $80.49.
NASDAQ:AKAM opened at $62.05 on Tuesday. Akamai Technologies, Inc. has a 52 week low of $51.79 and a 52 week high of $83.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19. The company has a market cap of $10.50 billion, a P/E ratio of 32.66, a PEG ratio of 1.71 and a beta of 0.47.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Monday, October 29th. The technology infrastructure company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.11. The business had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $664.17 million. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 2.47 EPS for the current fiscal year.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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