Exxonmobil Investment Management Inc. TX lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 33,191 shares of the technology infrastructure company’s stock after selling 5,269 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Akamai Technologies were worth $1,653,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in AKAM. Federated Investors Inc. PA boosted its position in Akamai Technologies by 85.5% in the fourth quarter. Federated Investors Inc. PA now owns 7,325 shares of the technology infrastructure company’s stock worth $488,000 after buying an additional 3,377 shares in the last quarter. Teachers Advisors LLC boosted its position in Akamai Technologies by 54.8% in the fourth quarter. Teachers Advisors LLC now owns 282,074 shares of the technology infrastructure company’s stock worth $18,809,000 after buying an additional 99,878 shares in the last quarter. Kentucky Retirement Systems bought a new position in Akamai Technologies during the fourth quarter worth about $839,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Akamai Technologies during the fourth quarter worth about $374,000. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Akamai Technologies by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 149,802 shares of the technology infrastructure company’s stock worth $8,943,000 after buying an additional 4,490 shares in the last quarter. Institutional investors and hedge funds own 87.16% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 52.36 on Friday. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 28.61 and a beta of 0.67. Akamai Technologies, Inc. has a 52 week low of $46.81 and a 52 week high of $71.64. The company’s 50-day moving average is $49.86 and its 200 day moving average is $58.38.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business had revenue of $609.24 million for the quarter, compared to the consensus estimate of $604.94 million. Akamai Technologies had a net margin of 13.53% and a return on equity of 11.31%. On average, analysts forecast that Akamai Technologies, Inc. will post $2.55 EPS for the current fiscal year.
AKAM has been the subject of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $71.00 price objective on shares of Akamai Technologies in a research report on Friday, March 31st. Royal Bank Of Canada reiterated a “hold” rating and set a $65.00 price objective on shares of Akamai Technologies in a research report on Friday, March 31st. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price objective (down from $65.00) on shares of Akamai Technologies in a research report on Sunday, April 2nd. William Blair reiterated an “outperform” rating on shares of Akamai Technologies in a research report on Monday, April 3rd. Finally, MKM Partners reiterated a “buy” rating and set a $79.00 price objective on shares of Akamai Technologies in a research report on Monday, April 3rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $64.74.
In related news, CEO F Thomson Leighton acquired 20,397 shares of Akamai Technologies stock in a transaction on Thursday, June 15th. The shares were acquired at an average cost of $49.02 per share, with a total value of $999,860.94. Following the transaction, the chief executive officer now owns 247,454 shares in the company, valued at $12,130,195.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul Sagan sold 17,889 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total transaction of $886,042.17. Following the transaction, the director now directly owns 64,147 shares in the company, valued at $3,177,200.91. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 61,410 shares of company stock worth $2,999,444. Insiders own 3.20% of the company’s stock.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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