North Star Asset Management Inc. increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,905 shares of the technology infrastructure company’s stock after buying an additional 6,117 shares during the period. Akamai Technologies accounts for approximately 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 25th largest position. North Star Asset Management Inc. owned 0.11% of Akamai Technologies worth $11,158,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Advantage Investment Management LLC bought a new position in shares of Akamai Technologies during the fourth quarter worth about $105,000. Advisory Services Network LLC bought a new position in shares of Akamai Technologies during the first quarter worth about $111,000. Whittier Trust Co. increased its position in shares of Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock worth $134,000 after buying an additional 501 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after buying an additional 1,032 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in Akamai Technologies during the first quarter valued at $145,000. Institutional investors and hedge funds own 87.16% of the company’s stock.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 51.77 on Tuesday. Akamai Technologies, Inc. has a 12 month low of $46.81 and a 12 month high of $71.64. The firm has a 50-day moving average of $48.87 and a 200 day moving average of $60.06. The company has a market capitalization of $8.95 billion, a PE ratio of 28.29 and a beta of 0.67.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $609.24 million for the quarter, compared to analysts’ expectations of $604.94 million. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. On average, equities research analysts expect that Akamai Technologies, Inc. will post $2.55 earnings per share for the current fiscal year.
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Several research firms have weighed in on AKAM. B. Riley restated a “buy” rating and set a $66.00 target price on shares of Akamai Technologies in a report on Wednesday, May 3rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $70.00 price target (down from $73.00) on shares of Akamai Technologies in a research note on Monday. MKM Partners reaffirmed a “buy” rating and set a $79.00 price target on shares of Akamai Technologies in a research note on Monday, April 3rd. Instinet initiated coverage on shares of Akamai Technologies in a research note on Thursday, May 25th. They set a “neutral” rating and a $47.62 price target on the stock. Finally, JMP Securities reissued an “outperform” rating and issued a $75.00 target price (down from $77.00) on shares of Akamai Technologies in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $64.74.
In other Akamai Technologies news, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total transaction of $886,042.17. Following the transaction, the director now owns 64,147 shares in the company, valued at $3,177,200.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO F Thomson Leighton bought 19,817 shares of Akamai Technologies stock in a transaction on Friday, July 14th. The shares were bought at an average price of $50.45 per share, for a total transaction of $999,767.65. Following the acquisition, the chief executive officer now owns 205,861 shares of the company’s stock, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 61,410 shares of company stock worth $2,999,444. 3.20% of the stock is owned by company insiders.
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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