Toronto Dominion Bank grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 106,002 shares of the technology infrastructure company’s stock after buying an additional 15,106 shares during the period. Toronto Dominion Bank’s holdings in Akamai Technologies were worth $7,599,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Legal & General Group Plc lifted its position in Akamai Technologies by 9.2% during the 3rd quarter. Legal & General Group Plc now owns 1,231,681 shares of the technology infrastructure company’s stock worth $90,079,000 after acquiring an additional 103,977 shares during the period. Vanguard Group Inc boosted its stake in Akamai Technologies by 0.4% in the third quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock valued at $1,250,409,000 after acquiring an additional 63,759 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Akamai Technologies by 5.8% during the fourth quarter. DNB Asset Management AS now owns 19,160 shares of the technology infrastructure company’s stock worth $1,170,000 after buying an additional 1,054 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth about $226,000. Finally, Winslow Evans & Crocker Inc. boosted its stake in shares of Akamai Technologies by 25.0% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 4,250 shares of the technology infrastructure company’s stock worth $262,000 after buying an additional 850 shares during the period. Institutional investors and hedge funds own 88.56% of the company’s stock.
AKAM has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Akamai Technologies from a “buy” rating to a “sell” rating in a research note on Tuesday, April 16th. ValuEngine lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Piper Jaffray Companies raised their target price on shares of Akamai Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, Tigress Financial restated a “strong-buy” rating on shares of Akamai Technologies in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $82.47.
Shares of NASDAQ:AKAM traded up $0.99 during midday trading on Tuesday, hitting $77.89. 16,232 shares of the company’s stock traded hands, compared to its average volume of 1,296,797. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.65 and a beta of 0.60. Akamai Technologies, Inc. has a twelve month low of $57.18 and a twelve month high of $86.19.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The business had revenue of $706.51 million for the quarter, compared to analyst estimates of $698.33 million. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, analysts predict that Akamai Technologies, Inc. will post 3.21 earnings per share for the current year.
Akamai Technologies Company 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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