Oakbrook Investments LLC increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 84.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,700 shares of the technology infrastructure company’s stock after purchasing an additional 5,370 shares during the quarter. Oakbrook Investments LLC’s holdings in Akamai Technologies were worth $570,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC grew its position in shares of Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies during the second quarter worth about $117,000. BB&T Investment Services Inc. purchased a new stake in shares of Akamai Technologies during the second quarter worth about $119,000. FTB Advisors Inc. grew its position in shares of Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after purchasing an additional 59 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of Akamai Technologies by 79.4% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after purchasing an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 84.41% of the company’s stock.
In other news, CEO F Thomson Leighton bought 21,554 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $46.91 per share, with a total value of $1,011,098.14. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Aaron Ahola sold 2,893 shares of Akamai Technologies stock in a transaction on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the sale, the senior vice president now directly owns 8,046 shares of the company’s stock, valued at $421,932.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,438 shares of company stock valued at $1,463,695. 3.20% of the stock is currently owned by corporate insiders.
AKAM has been the subject of several research analyst reports. Credit Suisse Group raised their price target on Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Cowen and Company restated a “hold” rating and set a $59.00 price target on shares of Akamai Technologies in a report on Friday, October 27th. Royal Bank Of Canada restated a “sector perform” rating and set a $54.00 price target (down previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Piper Jaffray Companies restated a “buy” rating and set a $57.00 price target on shares of Akamai Technologies in a report on Wednesday, July 26th. Finally, Oppenheimer Holdings, Inc. cut their price target on Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $60.73.
Shares of Akamai Technologies, Inc. (AKAM) traded up $0.41 during midday trading on Friday, reaching $54.26. The company’s stock had a trading volume of 1,976,300 shares, compared to its average volume of 2,369,274. The company has a current ratio of 3.01, a quick ratio of 3.10 and a debt-to-equity ratio of 0.20. The company has a market cap of $9,178.19, a price-to-earnings ratio of 28.26, a PEG ratio of 2.16 and a beta of 0.66. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million during the quarter, compared to analyst estimates of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. Akamai Technologies’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. equities research analysts anticipate that Akamai Technologies, Inc. will post 1.88 earnings per share for the current year.
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.
Receive News & Ratings for Akamai Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.