Earnest Partners LLC lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 710,653 shares of the technology infrastructure company’s stock after selling 26,848 shares during the quarter. Earnest Partners LLC owned approximately 0.42% of Akamai Technologies worth $46,221,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. purchased a new position in shares of Akamai Technologies in the 3rd quarter valued at approximately $65,270,000. Hexavest Inc. purchased a new position in shares of Akamai Technologies in the 4th quarter valued at approximately $39,344,000. Clearbridge Investments LLC lifted its stake in shares of Akamai Technologies by 5.5% in the 4th quarter. Clearbridge Investments LLC now owns 9,105,713 shares of the technology infrastructure company’s stock valued at $592,236,000 after purchasing an additional 474,271 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Akamai Technologies by 374.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 583,988 shares of the technology infrastructure company’s stock valued at $37,983,000 after purchasing an additional 460,980 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Akamai Technologies in the 4th quarter valued at approximately $17,747,000. Institutional investors and hedge funds own 89.01% of the company’s stock.
AKAM has been the subject of a number of recent research reports. MKM Partners lifted their price objective on Akamai Technologies to $65.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $59.00 price objective on shares of Akamai Technologies in a research note on Monday, December 4th. SunTrust Banks reiterated a “hold” rating and set a $60.00 price objective on shares of Akamai Technologies in a research note on Thursday, December 7th. Credit Suisse Group upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Monday, December 18th. Finally, B. Riley lifted their price objective on Akamai Technologies from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $69.84.
Shares of AKAM stock traded down $0.29 on Wednesday, hitting $73.39. The company had a trading volume of 920,462 shares, compared to its average volume of 1,893,630. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.20. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $78.28. The company has a market capitalization of $12,325.59, a price-to-earnings ratio of 58.71, a P/E/G ratio of 2.55 and a beta of 0.68.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The company had revenue of $663.50 million during the quarter, compared to analyst estimates of $649.08 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. Akamai Technologies’s revenue was up 7.7% compared to the same quarter last year. research analysts anticipate that Akamai Technologies, Inc. will post 2.22 earnings per share for the current fiscal year.
Akamai Technologies declared that its board has authorized 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 repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider William Wheaton sold 5,000 shares of Akamai Technologies stock in a transaction on Monday, March 5th. The stock was 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 $2,762,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Gemmell sold 8,430 shares of Akamai Technologies stock in a transaction on Friday, February 16th. The shares were sold at an average price of $67.00, for a total value of $564,810.00. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
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.
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.