Aviva PLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,360 shares of the technology infrastructure company’s stock after selling 2,663 shares during the quarter. Aviva PLC’s holdings in Akamai Technologies were worth $5,878,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Gideon Capital Advisors Inc. grew its position in Akamai Technologies by 95.8% during the 3rd quarter. Gideon Capital Advisors Inc. now owns 9,187 shares of the technology infrastructure company’s stock worth $672,000 after acquiring an additional 4,494 shares during the last quarter. Pictet Asset Management Ltd. grew its position in Akamai Technologies by 1.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 86,036 shares of the technology infrastructure company’s stock worth $6,294,000 after acquiring an additional 1,300 shares during the last quarter. Korea Investment CORP grew its position in Akamai Technologies by 69.1% during the 3rd quarter. Korea Investment CORP now owns 261,758 shares of the technology infrastructure company’s stock worth $19,148,000 after acquiring an additional 106,927 shares during the last quarter. Westpac Banking Corp grew its position in shares of Akamai Technologies by 6.0% in the 3rd quarter. Westpac Banking Corp now owns 12,783 shares of the technology infrastructure company’s stock worth $935,000 after buying an additional 724 shares during the last quarter. Finally, Freestone Capital Holdings LLC bought a new stake in shares of Akamai Technologies in the 3rd quarter worth approximately $365,000. Hedge funds and other institutional investors own 89.47% of the company’s stock.
A number of brokerages have recently weighed in on AKAM. TheStreet upgraded Akamai Technologies from a “c+” rating to a “b-” rating in a research report on Friday, November 16th. Zacks Investment Research reiterated a “strong-buy” rating and issued a $83.00 price objective on shares of Akamai Technologies in a research report on Monday, November 12th. BidaskClub lowered Akamai Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 8th. ValuEngine lowered Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Finally, Piper Jaffray Companies set a $94.00 price objective on Akamai Technologies and gave the stock a “buy” rating in a research report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Akamai Technologies currently has an average rating of “Buy” and a consensus price target of $80.44.
AKAM opened at $66.65 on Friday. The company has a market capitalization of $11.19 billion, a PE ratio of 35.08, a PEG ratio of 1.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 2.03. Akamai Technologies, Inc. has a 52 week low of $56.31 and a 52 week high of $83.08.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Monday, October 29th. The technology infrastructure company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. The company had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $664.17 million. Akamai Technologies had a return on equity of 12.06% and a net margin of 8.39%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. As a group, research analysts expect that Akamai Technologies, Inc. will post 2.66 earnings per share for the current fiscal year.
Akamai Technologies declared that its board has approved a share buyback plan on Monday, October 29th that permits the company to repurchase $1.10 billion in shares. This repurchase authorization permits the technology infrastructure company to buy up to 10.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP Aaron Ahola sold 1,122 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $67.81, for a total value of $76,082.82. Following the completion of the transaction, the senior vice president now owns 4,035 shares in the company, valued at approximately $273,613.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Blumofe sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $73.34, for a total value of $293,360.00. Following the completion of the transaction, the executive vice president now owns 15,951 shares of the company’s stock, valued at approximately $1,169,846.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,544 shares of company stock valued at $4,561,298. 3.20% of the stock is currently owned by company insiders.
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About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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