Horan Capital Advisors LLC. purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 800 shares of the technology infrastructure company’s stock, valued at approximately $73,000.
Other institutional investors have also made changes to their positions in the company. Squar Milner Financial Services LLC acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at $26,000. HM Payson & Co. acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at $29,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at $30,000. North Star Investment Management Corp. acquired a new position in shares of Akamai Technologies in the 3rd quarter valued at $30,000. Finally, Mcmillion Capital Management Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at $31,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ AKAM traded down $2.46 during trading hours on Tuesday, hitting $89.43. 88,660 shares of the company were exchanged, compared to its average volume of 1,187,399. The company has a 50 day moving average of $90.23 and a two-hundred day moving average of $83.08. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.35. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $93.12. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 1.91 and a beta of 0.62.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.30. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The company had revenue of $705.07 million for the quarter, compared to the consensus estimate of $695.88 million. During the same quarter in the prior year, the business earned $0.83 EPS. Akamai Technologies’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Akamai Technologies, Inc. will post 3.31 EPS for the current year.
In other Akamai Technologies news, EVP Aaron Ahola sold 3,117 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $90.24, for a total transaction of $281,278.08. Following the sale, the executive vice president now owns 4,109 shares in the company, valued at approximately $370,796.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 3,247 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total value of $289,242.76. Following the sale, the chief financial officer now owns 8,795 shares in the company, valued at approximately $783,458.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,864 shares of company stock worth $868,021. 2.40% of the stock is owned by company insiders.
AKAM has been the topic of several recent analyst reports. BidaskClub lowered Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Zacks Investment Research raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Tuesday, June 25th. Nomura increased their target price on Akamai Technologies from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Cowen set a $93.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, ValuEngine lowered Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $87.81.
Akamai Technologies Company 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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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