North Star Asset Management Inc. raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 211,460 shares of the technology infrastructure company’s stock after purchasing an additional 298 shares during the quarter. Akamai Technologies accounts for 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 25th largest position. North Star Asset Management Inc. owned approximately 0.13% of Akamai Technologies worth $12,916,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Fulton Bank N.A. boosted its holdings in shares of Akamai Technologies by 6.6% during the 4th quarter. Fulton Bank N.A. now owns 3,867 shares of the technology infrastructure company’s stock worth $236,000 after buying an additional 239 shares during the period. D.A. Davidson & CO. raised its position in shares of Akamai Technologies by 7.8% during the fourth quarter. D.A. Davidson & CO. now owns 5,081 shares of the technology infrastructure company’s stock worth $310,000 after purchasing an additional 368 shares during the period. Private Capital Group LLC raised its position in Akamai Technologies by 148.5% in the 4th quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock valued at $40,000 after buying an additional 395 shares during the last quarter. Griffin Asset Management Inc. raised its position in Akamai Technologies by 9.5% in the 3rd quarter. Griffin Asset Management Inc. now owns 4,600 shares of the technology infrastructure company’s stock valued at $336,000 after buying an additional 400 shares during the last quarter. Finally, First Hawaiian Bank grew its stake in Akamai Technologies by 5.4% in the 4th quarter. First Hawaiian Bank now owns 9,388 shares of the technology infrastructure company’s stock valued at $573,000 after purchasing an additional 483 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.
Shares of AKAM stock opened at $70.37 on Thursday. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 1.51 and a beta of 0.69. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $83.08. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.27.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.07. Akamai Technologies had a net margin of 8.39% and a return on equity of 12.06%. The business had revenue of $713.36 million during the quarter, compared to the consensus estimate of $703.74 million. During the same quarter last year, the firm posted $0.69 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Analysts expect that Akamai Technologies, Inc. will post 2.66 EPS for the current year.
Akamai Technologies announced that its board has approved a stock repurchase plan on Monday, October 29th that allows the company to repurchase $1.10 billion in shares. This repurchase authorization allows the technology infrastructure company to buy up to 10.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
AKAM has been the topic of a number of research reports. TheStreet raised Akamai Technologies from a “c+” rating to a “b-” rating in a report on Friday, November 16th. Piper Jaffray Companies set a $94.00 target price on Akamai Technologies and gave the stock a “buy” rating in a research report on Tuesday, October 30th. B. Riley upped their target price on Akamai Technologies from $97.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. SunTrust Banks raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $78.00 to $82.00 in a research note on Tuesday, October 30th. Finally, ValuEngine raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Akamai Technologies currently has an average rating of “Buy” and a consensus price target of $81.88.
In related news, SVP Aaron Ahola sold 1,122 shares of the stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $67.81, for a total value of $76,082.82. Following the completion of the transaction, the senior vice president now directly owns 4,035 shares of the company’s stock, valued at $273,613.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by corporate insiders.
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Akamai Technologies 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. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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