Whittier Trust Co. raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 33.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 782 shares of the technology infrastructure company’s stock after purchasing an additional 196 shares during the quarter. Whittier Trust Co.’s holdings in Akamai Technologies were worth $66,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Bain Capital Public Equity Management II LLC lifted its stake in Akamai Technologies by 230.1% in the third quarter. Bain Capital Public Equity Management II LLC now owns 782,504 shares of the technology infrastructure company’s stock valued at $62,851,000 after acquiring an additional 545,464 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Akamai Technologies by 4,398.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company’s stock valued at $51,581,000 after purchasing an additional 422,434 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Akamai Technologies in the third quarter worth $27,742,000. Great West Life Assurance Co. Can acquired a new position in Akamai Technologies during the third quarter worth $20,770,000. Finally, Vanguard Group Inc. raised its holdings in Akamai Technologies by 1.4% during 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 buying an additional 254,437 shares in the last quarter. 90.41% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Akamai Technologies
In other Akamai Technologies news, CEO F Thomson Leighton purchased 323 shares of the business’s stock in a transaction on Wednesday, April 5th. The stock was purchased at an average price of $77.60 per share, for a total transaction of $25,064.80. Following the completion of the purchase, the chief executive officer now directly owns 78,543 shares in the company, valued at $6,094,936.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO F Thomson Leighton acquired 323 shares of the company’s stock in a transaction on Wednesday, April 5th. The stock was purchased at an average cost of $77.60 per share, for a total transaction of $25,064.80. Following the completion of the purchase, the chief executive officer now directly owns 78,543 shares of the company’s stock, valued at approximately $6,094,936.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 1,500 shares of the stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $87.47, for a total transaction of $131,205.00. Following the sale, the executive vice president now owns 25,306 shares of the company’s stock, valued at approximately $2,213,515.82. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 8,476 shares of company stock valued at $676,043 and have sold 35,740 shares valued at $2,815,700. 1.70% of the stock is currently owned by insiders.
Akamai Technologies Price Performance
Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its earnings results on Tuesday, February 14th. The technology infrastructure company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Akamai Technologies had a return on equity of 15.12% and a net margin of 13.15%. The firm had revenue of $927.78 million during the quarter, compared to analysts’ expectations of $904.80 million. During the same period last year, the business earned $1.26 earnings per share. Akamai Technologies’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Akamai Technologies, Inc. will post 4.26 EPS for the current year.
Wall Street Analyst Weigh In
AKAM has been the subject of several recent analyst reports. Cowen lowered their price objective on Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. StockNews.com assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. Royal Bank of Canada downgraded shares of Akamai Technologies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $100.00 to $85.00 in a report on Wednesday, February 15th. Guggenheim began coverage on shares of Akamai Technologies in a research report on Monday, January 23rd. They set a “sell” rating and a $75.00 target price for the company. Finally, Loop Capital lowered their price target on Akamai Technologies from $91.00 to $79.00 and set a “hold” rating on the stock in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of “Hold” and an average target price of $100.63.
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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