Slow Capital Inc. Sells 972 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)
Slow Capital Inc. decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,955 shares of the technology infrastructure company’s stock after selling 972 shares during the period. Slow Capital Inc.’s holdings in Akamai Technologies were worth $1,039,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in AKAM. Squar Milner Financial Services LLC bought a new position in shares of Akamai Technologies during the second quarter worth approximately $26,000. Mcmillion Capital Management Inc. bought a new position in shares of Akamai Technologies during the second quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in shares of Akamai Technologies during the first quarter worth approximately $29,000. Destination Wealth Management increased its stake in shares of Akamai Technologies by 215.8% during the second quarter. Destination Wealth Management now owns 439 shares of the technology infrastructure company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, Horan Capital Advisors LLC. bought a new position in shares of Akamai Technologies during the first quarter worth approximately $57,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.
AKAM has been the topic of a number of recent research reports. Cowen set a $93.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies set a $97.00 price target on Akamai Technologies and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC initiated coverage on Akamai Technologies in a research report on Monday, April 22nd. They set a “buy” rating and a $95.00 price target on the stock. KeyCorp raised their target price on Akamai Technologies from $80.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $70.00 target price on shares of Akamai Technologies in a report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $87.81.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.30. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The company had revenue of $705.07 million during the quarter, compared to analysts’ expectations of $695.88 million. During the same period in the prior year, the company earned $0.83 EPS. Akamai Technologies’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts predict that Akamai Technologies, Inc. will post 3.29 EPS for the current year.
In other news, CFO Edward J. Mcgowan sold 3,247 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total value of $289,242.76. Following the completion of the transaction, the chief financial officer now directly owns 8,795 shares in the company, valued at approximately $783,458.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederic V. Salerno sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $77.74, for a total value of $233,220.00. Following the transaction, the director now directly owns 68,919 shares of the company’s stock, valued at $5,357,763.06. The disclosure for this sale can be found here. Insiders sold a total of 21,247 shares of company stock valued at $1,715,963 over the last quarter. 2.40% 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. 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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