Forsta AP Fonden Has $40.25 Million Holdings in Akamai Technologies, Inc. (AKAM)
Forsta AP Fonden lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 549,694 shares of the technology infrastructure company’s stock after selling 26,000 shares during the quarter. Akamai Technologies accounts for approximately 1.5% of Forsta AP Fonden’s holdings, making the stock its 13th biggest holding. Forsta AP Fonden owned approximately 0.32% of Akamai Technologies worth $40,254,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in AKAM. DekaBank Deutsche Girozentrale increased its holdings in Akamai Technologies by 78.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 18,433 shares of the technology infrastructure company’s stock valued at $1,363,000 after buying an additional 8,121 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Akamai Technologies in the 1st quarter valued at $232,000. State of Wisconsin Investment Board increased its holdings in Akamai Technologies by 7.7% in the 1st quarter. State of Wisconsin Investment Board now owns 186,638 shares of the technology infrastructure company’s stock valued at $13,248,000 after buying an additional 13,365 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Akamai Technologies by 3.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 879,425 shares of the technology infrastructure company’s stock valued at $62,422,000 after buying an additional 33,108 shares during the period. Finally, Synovus Financial Corp bought a new stake in Akamai Technologies in the 1st quarter valued at $188,000. 86.11% of the stock is currently owned by hedge funds and other institutional investors.
AKAM has been the topic of several analyst reports. B. Riley lowered their price target on shares of Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating on the stock in a report on Monday, July 23rd. ValuEngine raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. DA Davidson raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $82.00 to $93.00 in a report on Monday. Finally, TheStreet lowered shares of Akamai Technologies from a “b-” rating to a “c+” rating in a report on Friday, August 10th. Twelve analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Akamai Technologies has an average rating of “Buy” and a consensus target price of $76.41.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $661.13 million. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. sell-side analysts forecast that Akamai Technologies, Inc. will post 2.47 EPS for the current year.
In related news, EVP Adam Karon sold 10,000 shares of the company’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the executive vice president now owns 13,035 shares in the company, valued at approximately $977,625. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Naomi O. Seligman sold 7,855 shares of the company’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $74.00, for a total transaction of $581,270.00. Following the transaction, the director now owns 6,023 shares in the company, valued at approximately $445,702. The disclosure for this sale can be found here. Insiders sold a total of 154,313 shares of company stock worth $11,800,812 in the last 90 days. 3.20% of the stock is owned by corporate insiders.
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.
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