BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,694 shares of the technology infrastructure company’s stock after purchasing an additional 5,238 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Akamai Technologies were worth $2,608,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in AKAM. Griffin Asset Management Inc. lifted its holdings in Akamai Technologies by 9.5% in the third quarter. Griffin Asset Management Inc. now owns 4,600 shares of the technology infrastructure company’s stock valued at $336,000 after acquiring an additional 400 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Akamai Technologies by 94.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,755 shares of the technology infrastructure company’s stock valued at $1,957,000 after acquiring an additional 12,973 shares during the period. Korea Investment CORP lifted its holdings in Akamai Technologies by 69.1% in the third quarter. Korea Investment CORP now owns 261,758 shares of the technology infrastructure company’s stock valued at $19,148,000 after acquiring an additional 106,927 shares during the period. Vanguard Group Inc lifted its holdings in Akamai Technologies by 0.4% in the third quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock valued at $1,250,409,000 after acquiring an additional 63,759 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Akamai Technologies in the fourth quarter valued at approximately $507,000. 87.88% of the stock is owned by hedge funds and other institutional investors.
Shares of AKAM opened at $72.47 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.09 and a quick ratio of 2.09. Akamai Technologies, Inc. has a one year low of $57.18 and a one year high of $83.08. The company has a market cap of $11.83 billion, a P/E ratio of 26.26, a PEG ratio of 1.58 and a beta of 0.56.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.07. Akamai Technologies had a return on equity of 13.81% and a net margin of 10.99%. The firm had revenue of $713.36 million during the quarter, compared to analysts’ expectations of $703.74 million. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts predict that Akamai Technologies, Inc. will post 3.11 EPS for the current year.
In related news, SVP Aaron Ahola sold 2,157 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $70.16, for a total transaction of $151,335.12. Following the completion of the sale, the senior vice president now directly owns 4,035 shares in the company, valued at $283,095.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Wheaton sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $71.22, for a total value of $427,320.00. Following the sale, the insider now owns 27,848 shares of the company’s stock, valued at $1,983,334.56. The disclosure for this sale can be found here. Insiders have sold 93,372 shares of company stock valued at $6,643,765 over the last quarter. 3.20% of the stock is owned by company insiders.
AKAM has been the subject of a number of recent analyst reports. Credit Suisse Group cut their price objective on Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, February 13th. Zacks Investment Research cut Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 8th. BidaskClub cut Akamai Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 27th. Piper Jaffray Companies restated an “overweight” rating and issued a $85.00 price objective (up from $84.00) on shares of Akamai Technologies in a research report on Wednesday, February 13th. Finally, Craig Hallum cut their price objective on Akamai Technologies from $91.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, January 9th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Buy” and a consensus target price of $81.63.
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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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