Dupont Capital Management Corp raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 109.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,565 shares of the technology infrastructure company’s stock after acquiring an additional 1,866 shares during the quarter. Dupont Capital Management Corp’s holdings in Akamai Technologies were worth $218,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. First Hawaiian Bank bought a new position in shares of Akamai Technologies in the 3rd quarter worth about $652,000. Aperio Group LLC lifted its position in Akamai Technologies by 3.6% in the 3rd quarter. Aperio Group LLC now owns 151,455 shares of the technology infrastructure company’s stock valued at $11,079,000 after purchasing an additional 5,257 shares during the last quarter. IFM Investors Pty Ltd lifted its position in Akamai Technologies by 14.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 9,593 shares of the technology infrastructure company’s stock valued at $702,000 after purchasing an additional 1,195 shares during the last quarter. BTIM Corp. lifted its position in Akamai Technologies by 3.6% in the 3rd quarter. BTIM Corp. now owns 173,568 shares of the technology infrastructure company’s stock valued at $12,696,000 after purchasing an additional 6,111 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in Akamai Technologies by 3.4% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 52,429 shares of the technology infrastructure company’s stock valued at $3,776,000 after purchasing an additional 1,706 shares during the last quarter. 86.97% of the stock is currently owned by hedge funds and other institutional investors.
AKAM has been the topic of several recent research reports. SunTrust Banks upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, October 30th. Morgan Stanley upgraded shares of Akamai Technologies from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $82.00 to $79.00 in a research report on Tuesday, January 15th. Craig Hallum cut their price objective on shares of Akamai Technologies from $91.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, January 9th. ValuEngine downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Finally, Piper Jaffray Companies set a $94.00 price objective on shares of Akamai Technologies and gave the company a “buy” rating in a research report on Tuesday, October 30th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.63.
AKAM stock opened at $69.83 on Thursday. Akamai Technologies, Inc. has a 52 week low of $57.18 and a 52 week high of $83.08. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 1.54 and a beta of 0.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.03 and a current ratio of 2.09.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Akamai Technologies had a net margin of 10.99% and a return on equity of 13.81%. The company had revenue of $713.36 million for the quarter, compared to the consensus estimate of $703.74 million. During the same period in the previous year, the firm earned $0.69 EPS. Akamai Technologies’s revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Akamai Technologies, Inc. will post 3.13 EPS for the current year.
Akamai Technologies declared that its Board of Directors has initiated a stock buyback program on Monday, October 29th that allows the company to repurchase $1.10 billion in outstanding shares. This repurchase authorization allows the technology infrastructure company to buy up to 10.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, SVP Aaron Ahola sold 1,122 shares of Akamai Technologies stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $67.81, for a total value of $76,082.82. Following the transaction, the senior vice president now owns 4,035 shares of the company’s stock, valued at approximately $273,613.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Gemmell sold 9,579 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $70.16, for a total transaction of $672,062.64. Following the completion of the transaction, the executive vice president now directly owns 11,504 shares in the company, valued at approximately $807,120.64. The disclosure for this sale can be found here. Insiders sold a total of 18,858 shares of company stock worth $1,326,801 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.
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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.
Further Reading: How To Calculate Debt-to-Equity Ratio
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