Akamai Technologies, Inc. (AKAM) Stake Decreased by Quantbot Technologies LP
Quantbot Technologies LP lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 56.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,508 shares of the technology infrastructure company’s stock after selling 47,780 shares during the period. Quantbot Technologies LP’s holdings in Akamai Technologies were worth $1,868,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in AKAM. Swiss National Bank lifted its stake in Akamai Technologies by 2.8% in the 2nd quarter. Swiss National Bank now owns 631,319 shares of the technology infrastructure company’s stock valued at $31,446,000 after acquiring an additional 17,300 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Akamai Technologies in the 1st quarter valued at approximately $230,000. Pinnacle Associates Ltd. lifted its stake in Akamai Technologies by 12.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 39,290 shares of the technology infrastructure company’s stock valued at $1,957,000 after acquiring an additional 4,340 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Akamai Technologies by 6.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 508,495 shares of the technology infrastructure company’s stock valued at $25,328,000 after acquiring an additional 29,082 shares in the last quarter. Finally, AMG Funds LLC lifted its stake in Akamai Technologies by 41.5% in the 2nd quarter. AMG Funds LLC now owns 43,380 shares of the technology infrastructure company’s stock valued at $2,161,000 after acquiring an additional 12,720 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.
Several research firms have commented on AKAM. Stifel Nicolaus restated a “hold” rating and issued a $56.00 target price on shares of Akamai Technologies in a research note on Thursday, September 14th. Vetr cut Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 target price on the stock. in a research note on Wednesday, September 13th. Nomura cut their target price on Akamai Technologies from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 5th. Instinet reaffirmed a “neutral” rating and set a $47.00 price target (down previously from $48.00) on shares of Akamai Technologies in a research report on Tuesday, September 5th. Finally, Credit Suisse Group initiated coverage on Akamai Technologies in a research report on Tuesday, September 5th. They set a “neutral” rating and a $50.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. Akamai Technologies has an average rating of “Hold” and an average target price of $61.50.
Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at 48.33 on Friday. Akamai Technologies, Inc. has a 52-week low of $44.65 and a 52-week high of $71.64. The stock’s 50 day moving average price is $46.54 and its 200-day moving average price is $52.35. The company has a market capitalization of $8.28 billion, a P/E ratio of 27.60 and a beta of 0.64.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, equities analysts expect that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.
In related news, CEO F Thomson Leighton purchased 19,817 shares of Akamai Technologies stock in a transaction dated Friday, July 14th. The stock was bought at an average cost of $50.45 per share, for a total transaction of $999,767.65. Following the completion of the transaction, the chief executive officer now owns 205,861 shares in the company, valued at $10,385,687.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic V. Salerno purchased 5,000 shares of Akamai Technologies stock in a transaction dated Thursday, July 27th. The stock was bought at an average price of $46.83 per share, with a total value of $234,150.00. Following the completion of the transaction, the director now owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 46,371 shares of company stock valued at $2,245,016. 3.20% of the stock is owned by company insiders.
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.
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