Dynamic Technology Lab Private Ltd bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,846 shares of the technology infrastructure company’s stock, valued at approximately $1,452,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. GAM Holding AG raised its stake in shares of Akamai Technologies by 4.1% in the second quarter. GAM Holding AG now owns 16,527 shares of the technology infrastructure company’s stock valued at $1,210,000 after buying an additional 651 shares during the period. Westpac Banking Corp raised its stake in shares of Akamai Technologies by 6.0% in the third quarter. Westpac Banking Corp now owns 12,783 shares of the technology infrastructure company’s stock valued at $935,000 after buying an additional 724 shares during the period. Wedbush Securities Inc. raised its stake in shares of Akamai Technologies by 18.5% in the second quarter. Wedbush Securities Inc. now owns 4,710 shares of the technology infrastructure company’s stock valued at $345,000 after buying an additional 735 shares during the period. XR Securities LLC raised its stake in shares of Akamai Technologies by 24.9% in the third quarter. XR Securities LLC now owns 3,805 shares of the technology infrastructure company’s stock valued at $278,000 after buying an additional 758 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Akamai Technologies by 4.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 20,181 shares of the technology infrastructure company’s stock valued at $1,571,000 after buying an additional 776 shares during the period. Hedge funds and other institutional investors own 89.47% of the company’s stock.
In related news, SVP Aaron Ahola sold 1,122 shares of the business’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $67.81, for a total transaction of $76,082.82. Following the completion of the transaction, the senior vice president now directly owns 4,035 shares in the company, valued at $273,613.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robert Blumofe sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $73.34, for a total value of $293,360.00. Following the transaction, the executive vice president now owns 15,951 shares of the company’s stock, valued at $1,169,846.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,544 shares of company stock valued at $4,561,298. 3.20% of the stock is owned by company insiders.
Akamai Technologies stock opened at $66.65 on Friday. Akamai Technologies, Inc. has a 52 week low of $56.31 and a 52 week high of $83.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market cap of $11.24 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 1.77 and a beta of 0.56.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Monday, October 29th. The technology infrastructure company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Akamai Technologies had a return on equity of 12.06% and a net margin of 8.39%. The business had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $664.17 million. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict 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 stock buyback program on Monday, October 29th that allows the company to buyback $1.10 billion in shares. This buyback authorization allows the technology infrastructure company to purchase up to 10.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Several equities analysts have recently weighed in on AKAM shares. TheStreet upgraded Akamai Technologies from a “c+” rating to a “b-” rating in a research report on Friday, November 16th. Piper Jaffray Companies set a $94.00 price target on Akamai Technologies and gave the company a “buy” rating in a research report on Tuesday, October 30th. B. Riley lifted their price target on Akamai Technologies from $97.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. SunTrust Banks upgraded Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $78.00 to $82.00 in a research report on Tuesday, October 30th. Finally, DA Davidson upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $82.00 to $93.00 in a research report on Monday, September 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Akamai Technologies has a consensus rating of “Buy” and an average target price of $80.44.
Akamai Technologies Profile
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.
See Also: Debt-To-Equity Ratio
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