Kennedy Capital Management Inc. acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,774 shares of the technology infrastructure company’s stock, valued at approximately $2,717,000.
Other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Akamai Technologies by 3.9% during the third quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock worth $41,155,000 after acquiring an additional 31,911 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Akamai Technologies by 2.4% during the third quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock worth $15,205,000 after acquiring an additional 7,327 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Akamai Technologies by 23.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock worth $39,416,000 after acquiring an additional 151,399 shares in the last quarter. Aries Wealth Management acquired a new position in Akamai Technologies during the fourth quarter worth $394,000. Finally, Atria Investments LLC acquired a new position in Akamai Technologies during the fourth quarter worth $284,000. Hedge funds and other institutional investors own 89.20% of the company’s stock.
Several research firms have issued reports on AKAM. BidaskClub upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 30th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. MKM Partners increased their target price on Akamai Technologies to $65.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Zacks Investment Research cut Akamai Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, JPMorgan Chase & Co. upgraded Akamai Technologies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $44.65 to $75.19 in a report on Friday, March 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Akamai Technologies has an average rating of “Buy” and a consensus target price of $69.84.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $649.08 million. During the same quarter last year, the business earned $0.72 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. equities analysts forecast that Akamai Technologies, Inc. will post 2.19 EPS for the current year.
Akamai Technologies announced that its board has approved a share buyback program on Thursday, March 8th that allows the company to buyback $417.00 million in outstanding shares. This buyback authorization allows the technology infrastructure company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Akamai Technologies news, insider William Wheaton sold 5,000 shares of the firm’s stock in a transaction dated 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 owns 39,465 shares in the company, valued at $2,762,550. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO F Thomson Leighton purchased 17,537 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $57.01 per share, for a total transaction of $999,784.37. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 23,430 shares of company stock worth $1,577,710. Company 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.
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