Ergoteles LLC acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,071 shares of the technology infrastructure company’s stock, valued at approximately $1,050,000.
Several other institutional investors and hedge funds have also modified their holdings of AKAM. Caisse DE Depot ET Placement DU Quebec increased its holdings in Akamai Technologies by 4,398.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock worth $51,581,000 after purchasing an additional 422,434 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Akamai Technologies by 24.1% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,106,855 shares of the technology infrastructure company’s stock valued at $192,419,000 after acquiring an additional 408,535 shares in the last quarter. Triodos Investment Management BV acquired a new position in Akamai Technologies during the 2nd quarter worth approximately $25,413,000. Great West Life Assurance Co. Can bought a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $20,770,000. Finally, Vanguard Group Inc. raised its holdings in shares of Akamai Technologies by 1.4% in the first quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after purchasing an additional 254,437 shares during the last quarter. 90.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Akamai Technologies
In other news, CEO F Thomson Leighton purchased 337 shares of Akamai Technologies stock in a transaction that occurred on Friday, February 24th. The stock was acquired at an average cost of $74.27 per share, for a total transaction of $25,028.99. Following the purchase, the chief executive officer now directly owns 48,567 shares of the company’s stock, valued at approximately $3,607,071.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Akamai Technologies news, CEO F Thomson Leighton purchased 337 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were acquired at an average cost of $74.27 per share, with a total value of $25,028.99. Following the completion of the transaction, the chief executive officer now owns 48,567 shares in the company, valued at $3,607,071.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Karon sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $90.00, for a total transaction of $945,000.00. Following the completion of the sale, the chief operating officer now directly owns 21,389 shares of the company’s stock, valued at approximately $1,925,010. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 6,134 shares of company stock worth $525,856 and have sold 17,363 shares worth $1,558,367. 1.70% of the stock is owned by corporate insiders.
Akamai Technologies Price Performance
Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The technology infrastructure company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $927.78 million for the quarter, compared to analyst estimates of $904.80 million. Akamai Technologies had a net margin of 13.15% and a return on equity of 15.12%. Akamai Technologies’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 EPS. Equities analysts expect that Akamai Technologies, Inc. will post 4.32 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AKAM. Cowen decreased their target price on shares of Akamai Technologies from $164.00 to $137.00 in a research report on Wednesday, November 9th. Robert W. Baird lowered their target price on Akamai Technologies to $90.00 in a research report on Tuesday, November 15th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Monday, February 20th. Tigress Financial lowered their price target on Akamai Technologies from $168.00 to $132.00 in a research report on Wednesday, December 7th. Finally, Evercore ISI dropped their price objective on Akamai Technologies to $105.00 in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.38.
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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