Stifel Financial Corp Acquires 116,563 Shares of Akamai Technologies, Inc. (AKAM)

Stifel Financial Corp raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 83.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,735 shares of the technology infrastructure company’s stock after purchasing an additional 116,563 shares during the period. Stifel Financial Corp owned approximately 0.15% of Akamai Technologies worth $12,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC lifted its holdings in shares of Akamai Technologies by 9.0% during the 2nd 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 during the period. Westwood Holdings Group Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $119,000. FTB Advisors Inc. lifted its holdings in shares of Akamai Technologies by 2.4% during the 2nd 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 during the period. Finally, Tobam bought a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $153,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies, Inc. (NASDAQ AKAM) opened at $56.50 on Friday. The stock has a market cap of $9,557.09, a P/E ratio of 29.43, a P/E/G ratio of 2.23 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $610.66 million. During the same period in the prior year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. analysts anticipate that Akamai Technologies, Inc. will post 1.89 earnings per share for the current year.

In other Akamai Technologies news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rick M. Mcconnell sold 7,579 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total transaction of $386,529.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,181 shares of company stock valued at $1,614,560. Corporate insiders own 3.20% of the company’s stock.

A number of analysts have recently weighed in on the stock. Vetr downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price target for the company. in a report on Wednesday, September 13th. MKM Partners upped their price target on shares of Akamai Technologies to $65.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $60.00 price target on shares of Akamai Technologies in a report on Wednesday, October 25th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $62.00 price target (up previously from $57.00) on shares of Akamai Technologies in a report on Wednesday, October 25th. Finally, Cowen reaffirmed a “hold” rating and set a $59.00 price target on shares of Akamai Technologies in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.59.

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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.

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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