Standard Life Aberdeen plc raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 31.7% in the 2nd quarter, Holdings Channel reports. The firm owned 39,490 shares of the technology infrastructure company’s stock after buying an additional 9,513 shares during the quarter. Standard Life Aberdeen plc’s holdings in Akamai Technologies were worth $2,892,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of AKAM. IFP Advisors Inc raised its stake in shares of Akamai Technologies by 143.4% in the first quarter. IFP Advisors Inc now owns 1,743 shares of the technology infrastructure company’s stock worth $124,000 after purchasing an additional 1,027 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Akamai Technologies by 61.7% in the second quarter. Whittier Trust Co. now owns 2,266 shares of the technology infrastructure company’s stock worth $138,000 after purchasing an additional 865 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Akamai Technologies in the second quarter worth approximately $142,000. Synovus Financial Corp purchased a new stake in shares of Akamai Technologies in the first quarter worth approximately $188,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Akamai Technologies in the second quarter worth approximately $200,000. 86.14% of the stock is owned by hedge funds and other institutional investors.
In other Akamai Technologies news, Director Naomi O. Seligman sold 7,855 shares of the stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $74.00, for a total transaction of $581,270.00. Following the completion of the transaction, the director now directly owns 6,023 shares of the company’s stock, valued at $445,702. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Sagan sold 39,100 shares of the stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $76.09, for a total value of $2,975,119.00. Following the transaction, the director now directly owns 154,278 shares of the company’s stock, valued at $11,739,013.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,313 shares of company stock valued at $12,201,062. 3.20% of the stock is owned by corporate insiders.
AKAM has been the subject of several analyst reports. B. Riley lowered their price objective on Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating for the company in a research note on Monday, July 23rd. ValuEngine raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th. BidaskClub downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. TheStreet downgraded Akamai Technologies from a “b-” rating to a “c+” rating in a research note on Friday, August 10th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $77.00 price target on shares of Akamai Technologies in a research report on Wednesday, August 1st. Thirteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Buy” and an average target price of $75.87.
Shares of AKAM opened at $74.51 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19. The company has a market cap of $12.59 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 2.04 and a beta of 0.51. Akamai Technologies, Inc. has a 12 month low of $45.94 and a 12 month high of $83.08.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. Akamai Technologies had a return on equity of 10.63% and a net margin of 6.74%. The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $661.13 million. During the same period in the prior year, the company earned $0.62 earnings per share. Akamai Technologies’s revenue was up 9.4% compared to the same quarter last year. equities research analysts predict that Akamai Technologies, Inc. will post 2.48 EPS for the current year.
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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