Livforsakringsbolaget Skandia Omsesidigt Boosts Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

by · The Markets Daily

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 32.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,834 shares of the technology infrastructure company’s stock after purchasing an additional 7,484 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Akamai Technologies were worth $3,111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after acquiring an additional 193 shares during the last quarter. Innealta Capital LLC acquired a new position in Akamai Technologies in the second quarter worth about $28,000. EntryPoint Capital LLC bought a new stake in Akamai Technologies in the first quarter valued at about $31,000. Family Firm Inc. bought a new stake in Akamai Technologies in the second quarter valued at about $35,000. Finally, Covestor Ltd raised its stake in Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 310 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 0.8 %

Akamai Technologies stock opened at $104.22 on Friday. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68. The business has a 50 day moving average price of $99.59 and a two-hundred day moving average price of $97.61. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. As a group, equities analysts forecast that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on AKAM. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a report on Monday, July 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

Check Out Our Latest Analysis on Akamai Technologies

Insider Transactions at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company’s stock.

About Akamai Technologies

(Free Report)

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.

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