Comerica Bank decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,398 shares of the technology infrastructure company’s stock after selling 12,311 shares during the quarter. Comerica Bank’s holdings in Akamai Technologies were worth $3,326,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC raised its stake in 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 acquiring an additional 168 shares during the period. Wealth Architects LLC acquired a new stake in Akamai Technologies during the fourth quarter worth about $202,000. Welch & Forbes LLC acquired a new stake in Akamai Technologies during the fourth quarter worth about $203,000. Griffin Asset Management Inc. acquired a new stake in Akamai Technologies during the second quarter worth about $209,000. Finally, Regentatlantic Capital LLC acquired a new stake in Akamai Technologies during the third quarter worth about $218,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Several equities research analysts recently weighed in on AKAM shares. KeyCorp lowered shares of Akamai Technologies from a “sector weight” rating to an “underweight” rating and dropped their price objective for the stock from $66.32 to $51.00 in a research note on Thursday, January 11th. B. Riley increased their price objective on shares of Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Zacks Investment Research upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, January 2nd. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $75.00 price target (up previously from $58.00) on shares of Akamai Technologies in a research note on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Akamai Technologies presently has a consensus rating of “Hold” and an average price target of $68.95.
In other Akamai Technologies news, CEO F Thomson Leighton bought 17,537 shares of Akamai Technologies stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average cost of $57.01 per share, for a total transaction of $999,784.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rick M. Mcconnell sold 48,369 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $56.83, for a total transaction of $2,748,810.27. Following 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. Insiders sold 66,799 shares of company stock valued at $3,976,520 over the last quarter. Insiders own 3.20% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $66.89 on Monday. The company has a quick ratio of 3.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.20. The stock has a market cap of $11,314.56, a P/E ratio of 35.77, a PEG ratio of 2.44 and a beta of 0.71. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $69.56.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. The business had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. analysts anticipate that Akamai Technologies, Inc. will post 2.14 EPS for the current fiscal year.
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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.
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