Meadow Creek Investment Management LLC grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,164 shares of the technology infrastructure company’s stock after purchasing an additional 7,644 shares during the period. Meadow Creek Investment Management LLC owned approximately 0.08% of Akamai Technologies worth $9,311,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AKAM. Alyeska Investment Group L.P. acquired a new position in shares of Akamai Technologies in the third quarter valued at approximately $65,270,000. Hexavest Inc. acquired a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $39,344,000. Clearbridge Investments LLC increased its holdings in shares of Akamai Technologies by 5.5% in the fourth 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 increased its holdings in shares of Akamai Technologies by 374.8% in the fourth 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 acquired a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $17,747,000. 89.20% of the stock is currently owned by institutional investors and hedge funds.
In other Akamai Technologies news, EVP James Gemmell sold 8,430 shares of the business’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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William Wheaton sold 5,000 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the insider now owns 39,465 shares in the company, valued at $2,762,550. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,430 shares of company stock worth $1,577,710. 3.20% of the stock is owned by company insiders.
Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at $73.50 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $12,747.27, a price-to-earnings ratio of 58.64, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $78.28.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. The company had revenue of $663.50 million for the quarter, compared to the consensus estimate of $649.08 million. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. Akamai Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. equities analysts predict 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 permits the company to buyback $417.00 million in outstanding shares. This buyback authorization permits the technology infrastructure company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: This piece was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/03/14/meadow-creek-investment-management-llc-buys-7644-shares-of-akamai-technologies-inc-akam.html.
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.
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.