Disciplined Growth Investors Inc. MN lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,643,075 shares of the technology infrastructure company’s stock after buying an additional 13,472 shares during the quarter. Akamai Technologies makes up 2.1% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 16th biggest position. Disciplined Growth Investors Inc. MN owned approximately 0.97% of Akamai Technologies worth $106,866,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of Akamai Technologies by 3.9% in the 3rd quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock worth $41,155,000 after buying an additional 31,911 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of 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 worth $15,205,000 after buying an additional 7,327 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Akamai Technologies by 23.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock worth $39,416,000 after buying an additional 151,399 shares during the last quarter. Aries Wealth Management bought a new position in shares of Akamai Technologies in the 4th quarter worth about $394,000. Finally, Atria Investments LLC bought a new position in shares of Akamai Technologies in the 4th quarter worth about $284,000. Institutional investors own 89.01% of the company’s stock.
A number of research analysts have recently issued reports on the stock. KeyCorp upgraded shares of Akamai Technologies from an “underweight” rating to a “sector weight” rating and set a $57.00 price target on the stock in a research report on Thursday, March 15th. Credit Suisse Group restated an “outperform” rating and issued a $88.00 price target (up from $78.00) on shares of Akamai Technologies in a research report on Friday, March 9th. JPMorgan Chase & Co. upgraded shares of Akamai Technologies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $44.65 to $75.19 in a research report on Friday, March 9th. Cowen upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 8th. Finally, Deutsche Bank raised their price target on shares of Akamai Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $69.84.
Akamai Technologies, Inc. (AKAM) opened at $72.49 on Tuesday. The company has a market cap of $12,585.74, a PE ratio of 39.58, a price-to-earnings-growth 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, Inc. has a 52 week low of $44.65 and a 52 week high of $78.28.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The firm had revenue of $663.50 million for 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%. Akamai Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. equities research analysts forecast that Akamai Technologies, Inc. will post 2.22 earnings per share for the current year.
Akamai Technologies declared that its board has approved a stock buyback plan on Thursday, March 8th that authorizes the company to buyback $417.00 million in outstanding shares. This buyback authorization authorizes the technology infrastructure company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other Akamai Technologies news, EVP James Gemmell sold 8,430 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $67.00, for a total transaction of $564,810.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Wheaton sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the insider now directly owns 39,465 shares in the company, valued at approximately $2,762,550. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.
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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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