MUFG Americas Holdings Corp reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 99.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,638 shares of the technology infrastructure company’s stock after selling 1,113,017 shares during the period. MUFG Americas Holdings Corp’s holdings in Akamai Technologies were worth $367,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of Akamai Technologies by 3.9% during the 3rd quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock valued at $41,155,000 after buying an additional 31,911 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Akamai Technologies by 2.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock valued at $15,205,000 after buying an additional 7,327 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Akamai Technologies by 23.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock valued at $39,416,000 after buying an additional 151,399 shares during the period. Carret Asset Management LLC raised its holdings in shares of Akamai Technologies by 17.3% during the 3rd quarter. Carret Asset Management LLC now owns 14,550 shares of the technology infrastructure company’s stock valued at $709,000 after buying an additional 2,150 shares during the period. Finally, Atria Investments LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $284,000. 84.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Rick M. Mcconnell sold 48,369 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was 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 directly owns 45,974 shares in the company, valued at approximately $2,612,702.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO F Thomson Leighton purchased 17,537 shares of the stock in a transaction dated Friday, December 15th. The stock was purchased at an average price of $57.01 per share, with a total value of $999,784.37. The disclosure for this purchase can be found here. Insiders sold a total of 66,799 shares of company stock valued at $3,976,520 over the last quarter. Company insiders own 3.20% of the company’s stock.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The business had revenue of $663.50 million during the quarter, compared to the consensus estimate of $649.08 million. During the same period in the previous year, the business earned $0.72 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts anticipate that Akamai Technologies, Inc. will post 2.14 earnings per share for the current fiscal year.
AKAM has been the topic of several analyst reports. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. Morgan Stanley reiterated a “sell” rating and set a $52.00 target price on shares of Akamai Technologies in a report on Wednesday, December 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $75.00 target price (up from $58.00) on shares of Akamai Technologies in a report on Wednesday, January 10th. Vetr downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $68.08 target price on the stock. in a report on Monday, January 22nd. Finally, BidaskClub upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average 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.
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