Waldron Private Wealth LLC reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,725 shares of the technology infrastructure company’s stock after selling 224 shares during the quarter. Waldron Private Wealth LLC’s holdings in Akamai Technologies were worth $378,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Akamai Technologies by 11.3% in the 2nd quarter. Signaturefd LLC now owns 1,130 shares of the technology infrastructure company’s stock valued at $91,000 after purchasing an additional 115 shares during the period. World Asset Management Inc grew its position in Akamai Technologies by 1.2% during the 2nd quarter. World Asset Management Inc now owns 11,701 shares of the technology infrastructure company’s stock worth $938,000 after acquiring an additional 136 shares during the last quarter. Fulton Bank N.A. grew its position in Akamai Technologies by 3.0% during the 2nd quarter. Fulton Bank N.A. now owns 4,695 shares of the technology infrastructure company’s stock worth $377,000 after acquiring an additional 137 shares during the last quarter. S&CO Inc. grew its position in Akamai Technologies by 2.1% during the 2nd quarter. S&CO Inc. now owns 7,301 shares of the technology infrastructure company’s stock worth $585,000 after acquiring an additional 149 shares during the last quarter. Finally, Ashburton Jersey Ltd grew its position in Akamai Technologies by 3.6% during the 1st quarter. Ashburton Jersey Ltd now owns 4,845 shares of the technology infrastructure company’s stock worth $347,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.
In other Akamai Technologies news, Director Frederic V. Salerno sold 3,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $77.74, for a total transaction of $233,220.00. Following the transaction, the director now owns 68,919 shares of the company’s stock, valued at approximately $5,357,763.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Adam Karon sold 8,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $77.00, for a total value of $616,000.00. Following the transaction, the executive vice president now directly owns 16,418 shares in the company, valued at approximately $1,264,186. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,247 shares of company stock worth $1,715,963. Company insiders own 2.40% of the company’s stock.
NASDAQ:AKAM traded down $5.81 during trading hours on Wednesday, hitting $83.56. 130,349 shares of the stock were exchanged, compared to its average volume of 1,269,790. The company’s 50 day moving average is $83.75. Akamai Technologies, Inc. has a twelve month low of $57.18 and a twelve month high of $90.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 3.19. The firm has a market capitalization of $14.31 billion, a P/E ratio of 30.56, a P/E/G ratio of 1.86 and a beta of 0.62.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, topping the 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 firm 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. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that Akamai Technologies, Inc. will post 3.29 earnings per share for the current fiscal year.
A number of research firms recently commented on AKAM. KeyCorp increased their price target on Akamai Technologies from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI restated a “hold” rating and set a $70.00 price target on shares of Akamai Technologies in a research report on Thursday, June 13th. Needham & Company LLC began coverage on Akamai Technologies in a research report on Monday, April 22nd. They set a “buy” rating and a $95.00 price target on the stock. DA Davidson restated a “buy” rating and set a $95.00 price target on shares of Akamai Technologies in a research report on Friday, June 14th. Finally, Guggenheim lowered Akamai Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus 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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