Bremer Trust National Association lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,286 shares of the technology infrastructure company’s stock after selling 1,855 shares during the quarter. Bremer Trust National Association’s holdings in Akamai Technologies were worth $604,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexavest Inc. bought a new position in shares of Akamai Technologies during the 4th quarter valued at approximately $39,344,000. Nisa Investment Advisors LLC grew its position in Akamai Technologies by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock valued at $5,329,000 after acquiring an additional 788 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Akamai Technologies in the 4th quarter valued at $1,509,000. Aurora Investment Counsel bought a new position in Akamai Technologies in the 4th quarter valued at $2,644,000. Finally, Parametric Portfolio Associates LLC grew its position in Akamai Technologies by 2.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock valued at $15,205,000 after acquiring an additional 7,327 shares during the last quarter. 86.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Akamai Technologies, Inc. (AKAM) opened at $65.52 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a market capitalization of $11,030.38, a price-to-earnings ratio of 33.96, a P/E/G ratio of 2.64 and a beta of 0.68. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.34.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. analysts anticipate that Akamai Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 2,743 shares of the stock in a transaction dated 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 sale, the insider now directly owns 37,010 shares in the company, valued at $2,035,550. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rick M. Mcconnell sold 48,369 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $56.83, for a total value of $2,748,810.27. Following the completion of the sale, the insider now owns 45,974 shares of the company’s stock, valued at $2,612,702.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 55,752 shares of company stock valued at $2,999,371 and have sold 71,971 shares valued at $4,141,642. Corporate insiders own 3.20% of the company’s stock.
Several equities analysts have commented on AKAM shares. Wells Fargo & Co set a $57.00 price objective on Akamai Technologies and gave the company a “hold” rating in a research report on Tuesday, October 10th. B. Riley upped their price objective on Akamai Technologies from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 18th. DA Davidson set a $57.00 price objective on Akamai Technologies and gave the company a “hold” rating in a research report on Thursday, October 12th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Zacks Investment Research raised Akamai Technologies from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $63.20.
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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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