State Board of Administration of Florida Retirement System decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 260,933 shares of the technology infrastructure company’s stock after selling 2,220 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Akamai Technologies worth $12,713,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Swiss National Bank boosted its stake in Akamai Technologies by 2.8% in the 2nd quarter. Swiss National Bank now owns 631,319 shares of the technology infrastructure company’s stock worth $31,446,000 after purchasing an additional 17,300 shares during the period. FIL Ltd boosted its stake in Akamai Technologies by 63.5% in the 2nd quarter. FIL Ltd now owns 1,859,231 shares of the technology infrastructure company’s stock worth $92,609,000 after purchasing an additional 722,170 shares during the period. Globeflex Capital L P boosted its stake in Akamai Technologies by 79.2% in the 2nd quarter. Globeflex Capital L P now owns 32,800 shares of the technology infrastructure company’s stock worth $1,634,000 after purchasing an additional 14,500 shares during the period. Pinnacle Associates Ltd. boosted its stake in Akamai Technologies by 12.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 39,290 shares of the technology infrastructure company’s stock worth $1,957,000 after purchasing an additional 4,340 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Akamai Technologies by 6.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 508,495 shares of the technology infrastructure company’s stock worth $25,328,000 after purchasing an additional 29,082 shares during the period. 84.41% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO F Thomson Leighton bought 21,554 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $46.91 per share, with a total value of $1,011,098.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,438 shares of company stock valued at $1,463,695. Insiders own 3.20% of the company’s stock.
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Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $54.26 on Friday. The company has a market cap of $9,108.82, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.10.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. equities research analysts predict that Akamai Technologies, Inc. will post 1.88 EPS for the current year.
A number of research firms recently commented on AKAM. B. Riley reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Akamai Technologies in a research note on Friday, July 28th. BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Piper Jaffray Companies reiterated a “buy” rating and issued a $57.00 target price on shares of Akamai Technologies in a research report on Wednesday, July 26th. SunTrust Banks, Inc. reiterated a “hold” rating on shares of Akamai Technologies in a research report on Wednesday, October 25th. Finally, Cowen and Company reiterated a “hold” rating and issued a $60.00 target price on shares of Akamai Technologies in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $60.73.
Akamai Technologies Company Profile
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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