Schwab Charles Investment Management Inc. increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 23.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 809,014 shares of the technology infrastructure company’s stock after acquiring an additional 151,399 shares during the period. Schwab Charles Investment Management Inc. owned about 0.48% of Akamai Technologies worth $39,416,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC raised its stake in shares of Akamai Technologies by 9.0% in the second 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 last quarter. Westwood Holdings Group Inc. bought a new position in shares of Akamai Technologies in the second quarter worth about $117,000. BB&T Investment Services Inc. bought a new position in shares of Akamai Technologies in the second quarter worth about $119,000. FTB Advisors Inc. grew its position 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 buying an additional 59 shares during the period. Finally, Tobam acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $153,000. Institutional investors and hedge funds own 86.57% of the company’s stock.
In related news, SVP Aaron Ahola sold 2,893 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the sale, the senior vice president now owns 8,046 shares of the company’s stock, valued at $421,932.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rick M. Mcconnell sold 2,743 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total value of $150,865.00. Following the completion of the transaction, the insider now owns 37,010 shares of the company’s stock, valued at $2,035,550. The disclosure for this sale can be found here. Insiders sold a total of 31,181 shares of company stock valued at $1,614,560 in the last ninety days. 3.20% of the stock is currently owned by insiders.
Several research firms have recently weighed in on AKAM. SunTrust Banks reiterated a “hold” rating and issued a $60.00 price target on shares of Akamai Technologies in a report on Thursday. Piper Jaffray Companies reissued a “buy” rating and issued a $59.00 price objective on shares of Akamai Technologies in a research report on Monday, December 4th. MKM Partners upped their price target on shares of Akamai Technologies to $65.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. TheStreet raised shares of Akamai Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Finally, Zacks Investment Research raised shares of Akamai Technologies from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.59.
Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at $56.50 on Friday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $9,546.92, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. 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. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business had revenue of $621.00 million during the quarter, compared to analyst estimates of $610.66 million. During the same period in the previous year, the company posted $0.68 EPS. Akamai Technologies’s revenue was up 6.3% on a year-over-year basis. equities research analysts predict that Akamai Technologies, Inc. will post 1.89 earnings per share for the current 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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