Martingale Asset Management L P lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 502.6% in the first quarter, HoldingsChannel.com reports. The fund owned 358,137 shares of the technology infrastructure company’s stock after purchasing an additional 298,703 shares during the quarter. Martingale Asset Management L P’s holdings in Akamai Technologies were worth $25,683,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Akamai Technologies by 9.2% in the 3rd quarter. Legal & General Group Plc now owns 1,231,681 shares of the technology infrastructure company’s stock worth $90,079,000 after purchasing an additional 103,977 shares in the last quarter. Vanguard Group Inc lifted its position in Akamai Technologies by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock worth $1,250,409,000 after acquiring an additional 63,759 shares during the period. Intact Investment Management Inc. acquired a new stake in Akamai Technologies during the 4th quarter worth about $226,000. Winslow Evans & Crocker Inc. lifted its position in Akamai Technologies by 25.0% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 4,250 shares of the technology infrastructure company’s stock worth $262,000 after acquiring an additional 850 shares during the period. Finally, IFM Investors Pty Ltd lifted its position in Akamai Technologies by 8.2% during the 4th quarter. IFM Investors Pty Ltd now owns 10,379 shares of the technology infrastructure company’s stock worth $634,000 after acquiring an additional 786 shares during the period. 88.95% of the stock is owned by institutional investors.
A number of analysts have commented on the company. ValuEngine cut Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. BidaskClub cut Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 7th. Craig Hallum reaffirmed a “buy” rating and set a $92.00 price target (up previously from $82.00) on shares of Akamai Technologies in a research report on Wednesday, May 1st. KeyCorp lifted their price target on Akamai Technologies from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Piper Jaffray Companies lifted their price target on Akamai Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $82.47.
In other Akamai Technologies news, Director Monte E. Ford sold 24,721 shares of Akamai Technologies stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $72.41, for a total transaction of $1,790,047.61. Following the completion of the transaction, the director now owns 41,012 shares in the company, valued at approximately $2,969,678.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rick M. Mcconnell sold 22,775 shares of Akamai Technologies stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $70.88, for a total value of $1,614,292.00. Following the transaction, the insider now owns 26,533 shares of the company’s stock, valued at approximately $1,880,659.04. The disclosure for this sale can be found here. Insiders have sold a total of 85,194 shares of company stock valued at $6,237,808 in the last quarter. Company insiders own 2.40% of the company’s stock.
NASDAQ AKAM opened at $77.76 on Friday. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.65 and a beta of 0.60. Akamai Technologies, Inc. has a fifty-two week low of $57.18 and a fifty-two week high of $86.19. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.36.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.09. The business had revenue of $706.51 million during the quarter, compared to analyst estimates of $698.33 million. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. Analysts forecast that Akamai Technologies, Inc. will post 3.21 EPS for the current year.
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About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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