US Bancorp DE Decreases Holdings in Akamai Technologies, Inc. (AKAM)

US Bancorp DE lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,536 shares of the technology infrastructure company’s stock after selling 16,202 shares during the quarter. US Bancorp DE’s holdings in Akamai Technologies were worth $4,978,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AKAM. Advisory Services Network LLC boosted its holdings in Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares during the period. Westwood Holdings Group Inc. acquired a new position in Akamai Technologies in the second quarter worth $117,000. BB&T Investment Services Inc. acquired a new position in Akamai Technologies in the second quarter worth $119,000. Wealth Architects LLC acquired a new position in Akamai Technologies in the fourth quarter worth $202,000. Finally, Welch & Forbes LLC acquired a new position in Akamai Technologies in the fourth quarter worth $203,000. 86.52% of the stock is owned by hedge funds and other institutional investors.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at $64.13 on Friday. The firm has a market cap of $10,847.72, a PE ratio of 51.30, a P/E/G ratio of 2.68 and a beta of 0.71. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $69.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 3.01.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $663.50 million during the quarter, compared to the consensus estimate of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. analysts forecast that Akamai Technologies, Inc. will post 2.12 EPS for the current fiscal year.

In related news, insider Rick M. Mcconnell sold 48,369 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $56.83, for a total value of $2,748,810.27. Following the completion of the sale, the insider now owns 45,974 shares of the company’s stock, valued at $2,612,702.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton acquired 18,545 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average cost of $53.91 per share, with a total value of $999,760.95. Following the acquisition, the chief executive officer now directly owns 226,950 shares of the company’s stock, valued at $12,234,874.50. The disclosure for this purchase can be found here. Insiders sold 61,112 shares of company stock valued at $3,562,575 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

A number of equities analysts have commented on AKAM shares. TheStreet raised shares of Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Akamai Technologies in a report on Monday, December 4th. MKM Partners boosted their price target on shares of Akamai Technologies to $65.00 and gave the company a “buy” rating in a report on Friday, December 1st. B. Riley reissued a “buy” rating and set a $70.00 price target (up previously from $60.00) on shares of Akamai Technologies in a report on Wednesday, October 25th. Finally, Deutsche Bank reissued a “buy” rating and set a $75.00 price target on shares of Akamai Technologies in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.95.

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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.

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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