Peloton Wealth Strategists lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,800 shares of the technology infrastructure company’s stock after selling 3,500 shares during the quarter. Peloton Wealth Strategists’ holdings in Akamai Technologies were worth $787,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of AKAM. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Akamai Technologies by 79.4% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after buying an additional 1,032 shares during the period. Tobam acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at about $153,000. Pier 88 Investment Partners LLC lifted its holdings in shares of Akamai Technologies by 383.1% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 3,657 shares of the technology infrastructure company’s stock valued at $182,000 after buying an additional 2,900 shares during the period. FNY Partners Fund LP acquired a new position in shares of Akamai Technologies in the 1st quarter valued at about $202,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at about $212,000. Institutional investors and hedge funds own 84.45% of the company’s stock.
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In other news, CEO F Thomson Leighton bought 20,397 shares of the stock in a transaction on Thursday, June 15th. The stock was purchased at an average cost of $49.02 per share, with a total value of $999,860.94. Following the purchase, the chief executive officer now owns 247,454 shares of the company’s stock, valued at $12,130,195.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederic V. Salerno bought 5,000 shares of the stock in a transaction on Thursday, July 27th. The stock was purchased at an average cost of $46.83 per share, with a total value of $234,150.00. Following the completion of the purchase, the director now directly owns 62,192 shares in the company, valued at approximately $2,912,451.36. The disclosure for this purchase can be found here. Insiders have purchased a total of 66,768 shares of company stock valued at $3,244,877 over the last 90 days. Insiders own 3.20% of the company’s stock.
Several brokerages have recently issued reports on AKAM. Vetr raised Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 price objective for the company in a report on Wednesday, September 6th. Nomura decreased their price objective on Akamai Technologies from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, September 5th. Instinet reissued a “neutral” rating and issued a $47.00 price objective (down previously from $48.00) on shares of Akamai Technologies in a report on Tuesday, September 5th. Credit Suisse Group began coverage on Akamai Technologies in a report on Tuesday, September 5th. They issued a “neutral” rating and a $50.00 price objective for the company. Finally, Robert W. Baird reissued a “hold” rating and issued a $52.00 price objective on shares of Akamai Technologies in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Akamai Technologies currently has a consensus rating of “Hold” and an average price target of $61.50.
Akamai Technologies, Inc. (NASDAQ AKAM) traded up 0.77% during midday trading on Tuesday, hitting $46.83. The stock had a trading volume of 419,598 shares. The stock has a 50-day moving average price of $46.79 and a 200 day moving average price of $53.09. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The firm has a market cap of $8.03 billion, a P/E ratio of 26.74 and a beta of 0.64.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $608.90 million during the quarter, compared to the consensus estimate of $604.51 million. During the same period in the previous year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Akamai Technologies, Inc. will post $2.52 earnings per share for the current fiscal year.
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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