Akamai Technologies, Inc. (NASDAQ:AKAM) – SunTrust Banks boosted their Q1 2018 earnings per share estimates for shares of Akamai Technologies in a report released on Wednesday. SunTrust Banks analyst G. Miller now anticipates that the technology infrastructure company will earn $0.50 per share for the quarter, up from their previous estimate of $0.41. SunTrust Banks currently has a “Hold” rating and a $60.00 target price on the stock. SunTrust Banks also issued estimates for Akamai Technologies’ Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.65 EPS, FY2018 earnings at $2.18 EPS, Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.65 EPS and FY2019 earnings at $2.37 EPS.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The firm had revenue of $663.50 million for the quarter, compared to the consensus estimate of $649.08 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year.
Shares of Akamai Technologies (AKAM) opened at $64.49 on Monday. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $69.56. The stock has a market cap of $10,983.02, a price-to-earnings ratio of 34.72, a P/E/G ratio of 2.37 and a beta of 0.71. The company has a current ratio of 2.82, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.
Large investors have recently bought and sold shares of the company. Legal & General Group Plc lifted its stake in shares of Akamai Technologies by 3.9% in the third quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock worth $41,155,000 after buying an additional 31,911 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Akamai Technologies by 2.4% during the third quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock worth $15,205,000 after purchasing an additional 7,327 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Akamai Technologies by 23.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock worth $39,416,000 after purchasing an additional 151,399 shares during the last quarter. Carret Asset Management LLC increased its position in Akamai Technologies by 17.3% during the third quarter. Carret Asset Management LLC now owns 14,550 shares of the technology infrastructure company’s stock worth $709,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in Akamai Technologies during the fourth quarter worth about $284,000. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Rick M. Mcconnell sold 2,743 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $55.00, for a total value of $150,865.00. Following the transaction, the insider now directly owns 37,010 shares of the company’s stock, valued at $2,035,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.29, for a total transaction of $662,900.00. Following the completion of the transaction, the insider now directly owns 32,319 shares in the company, valued at $2,142,426.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,112 shares of company stock worth $3,562,575. Insiders own 3.20% of the company’s stock.
Akamai Technologies Company 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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