Akamai Technologies, Inc. (AKAM) Holdings Maintained by Barings LLC
Barings LLC continued to hold its position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,436 shares of the technology infrastructure company’s stock at the close of the second quarter. Barings LLC’s holdings in Akamai Technologies were worth $1,936,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in AKAM. Neuberger Berman Group LLC purchased a new position in shares of Akamai Technologies in the first quarter valued at about $304,000. Cadence Capital Management LLC increased its position in shares of Akamai Technologies by 37.6% in the first quarter. Cadence Capital Management LLC now owns 4,703 shares of the technology infrastructure company’s stock valued at $281,000 after acquiring an additional 1,286 shares during the period. OppenheimerFunds Inc. increased its position in shares of Akamai Technologies by 15.7% in the first quarter. OppenheimerFunds Inc. now owns 4,454 shares of the technology infrastructure company’s stock valued at $266,000 after acquiring an additional 606 shares during the period. Principal Financial Group Inc. increased its position in shares of Akamai Technologies by 0.6% in the first quarter. Principal Financial Group Inc. now owns 276,381 shares of the technology infrastructure company’s stock valued at $16,500,000 after acquiring an additional 1,738 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Akamai Technologies by 30.6% in the first quarter. Teachers Advisors LLC now owns 368,457 shares of the technology infrastructure company’s stock valued at $21,997,000 after acquiring an additional 86,383 shares during the period. Hedge funds and other institutional investors own 84.49% of the company’s stock.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 50.63 on Friday. The stock has a market cap of $8.68 billion, a PE ratio of 28.91 and a beta of 0.65. The firm has a 50-day moving average of $47.26 and a 200-day moving average of $51.10. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $608.90 million for the quarter, compared to the consensus estimate of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts expect that Akamai Technologies, Inc. will post $2.52 earnings per share for the current fiscal year.
In other Akamai Technologies news, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.81, for a total transaction of $498,100.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton bought 19,817 shares of the business’s stock in a transaction on Friday, July 14th. The shares were acquired at an average cost of $50.45 per share, for a total transaction of $999,767.65. Following the transaction, the chief executive officer now directly owns 205,861 shares in the company, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. Insiders have acquired a total of 46,371 shares of company stock worth $2,245,016 in the last three months. Insiders own 3.20% of the company’s stock.
A number of equities analysts have issued reports on AKAM shares. B. Riley restated a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research report on Sunday, June 11th. BidaskClub cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Deutsche Bank AG restated a “buy” rating and issued a $70.00 price objective (down previously from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Piper Jaffray Companies restated a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a research report on Wednesday, July 26th. Finally, Vetr cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a research report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $60.28.
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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