MML Investors Services LLC grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,628 shares of the technology infrastructure company’s stock after buying an additional 1,177 shares during the quarter. MML Investors Services LLC’s holdings in Akamai Technologies were worth $496,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings 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 period. Suntrust Banks Inc. grew its position in shares of Akamai Technologies by 19.6% during the 4th quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock worth $328,000 after purchasing an additional 829 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Akamai Technologies by 2.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock worth $2,135,000 after purchasing an additional 937 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Akamai Technologies by 8.5% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,941 shares of the technology infrastructure company’s stock worth $679,000 after purchasing an additional 1,098 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Akamai Technologies by 4.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 27,513 shares of the technology infrastructure company’s stock worth $1,346,000 after purchasing an additional 1,100 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.
AKAM has been the topic of a number of analyst reports. Guggenheim increased their target price on shares of Akamai Technologies from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $59.00 price target on shares of Akamai Technologies in a research report on Monday, December 4th. MKM Partners increased 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. Finally, B. Riley increased their price target on shares of Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Akamai Technologies has an average rating of “Buy” and an average price target of $69.84.
In other Akamai Technologies news, insider William Wheaton sold 5,000 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the insider now directly owns 39,465 shares in the company, valued at $2,762,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Gemmell sold 8,430 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $67.00, for a total transaction of $564,810.00. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
Akamai Technologies stock opened at $74.02 on Monday. Akamai Technologies, Inc. has a 52 week low of $44.65 and a 52 week high of $78.28. The firm has a market cap of $12,585.74, a price-to-earnings ratio of 39.58, a P/E/G ratio of 2.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 2.82.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The business had revenue of $663.50 million during the quarter, compared to the consensus estimate of $649.08 million. During the same quarter last year, the firm earned $0.72 earnings per share. Akamai Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. analysts expect that Akamai Technologies, Inc. will post 2.22 EPS for the current fiscal year.
Akamai Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 8th that allows the company to buyback $417.00 million in shares. This buyback authorization allows the technology infrastructure company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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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