Gulf International Bank UK Ltd Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Gulf International Bank UK Ltd lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,184 shares of the technology infrastructure company’s stock after selling 379 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Akamai Technologies were worth $3,261,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atria Investments LLC lifted its stake in Akamai Technologies by 10.5% during the second quarter. Atria Investments LLC now owns 11,897 shares of the technology infrastructure company’s stock worth $1,387,000 after purchasing an additional 1,129 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in Akamai Technologies by 75,284.6% during the second quarter. Metropolitan Life Insurance Co NY now owns 19,600 shares of the technology infrastructure company’s stock worth $2,285,000 after purchasing an additional 19,574 shares during the last quarter. CIBC World Markets Inc. lifted its stake in Akamai Technologies by 3.6% during the second quarter. CIBC World Markets Inc. now owns 30,356 shares of the technology infrastructure company’s stock worth $3,540,000 after purchasing an additional 1,055 shares during the last quarter. Garrison Asset Management LLC lifted its stake in Akamai Technologies by 0.7% during the third quarter. Garrison Asset Management LLC now owns 21,702 shares of the technology infrastructure company’s stock worth $2,270,000 after purchasing an additional 151 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Akamai Technologies by 14.6% during the third quarter. Pacer Advisors Inc. now owns 10,736 shares of the technology infrastructure company’s stock worth $1,123,000 after purchasing an additional 1,367 shares during the last quarter. Institutional investors and hedge funds own 88.60% of the company’s stock.

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Akamai Technologies from $119.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 3rd. JPMorgan Chase & Co. lowered Akamai Technologies from a “neutral” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Tuesday, December 14th. Royal Bank of Canada assumed coverage on Akamai Technologies in a research report on Thursday, October 14th. They set an “outperform” rating and a $140.00 price target on the stock. DA Davidson reaffirmed a “buy” rating on shares of Akamai Technologies in a research report on Monday, January 3rd. Finally, Oppenheimer lowered Akamai Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $128.83.

Shares of NASDAQ:AKAM opened at $112.62 on Friday. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.43. Akamai Technologies, Inc. has a 52-week low of $92.64 and a 52-week high of $124.91. The stock’s fifty day simple moving average is $113.22 and its 200-day simple moving average is $112.39. The company has a market capitalization of $18.30 billion, a P/E ratio of 30.94, a P/E/G ratio of 1.95 and a beta of 0.54.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, November 2nd. The technology infrastructure company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.06. The business had revenue of $860.33 million for the quarter, compared to the consensus estimate of $852.50 million. Akamai Technologies had a return on equity of 16.98% and a net margin of 17.77%. During the same period in the prior year, the business earned $1.11 earnings per share. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.57 earnings per share for the current year.

Akamai Technologies announced that its Board of Directors has approved a stock buyback program on Tuesday, November 2nd that permits the company to buyback $1.80 billion in shares. This buyback authorization permits the technology infrastructure company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, CMO Kim Salem-Jackson sold 2,736 shares of the company’s stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $116.67, for a total value of $319,209.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 6,000 shares of the company’s stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $104.15, for a total value of $624,900.00. The disclosure for this sale can be found here. Insiders sold 17,325 shares of company stock valued at $1,894,557 over the last quarter. Insiders own 2.40% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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