BB&T Corp raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,679 shares of the technology infrastructure company’s stock after acquiring an additional 20,442 shares during the quarter. BB&T Corp owned approximately 0.08% of Akamai Technologies worth $6,708,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC lifted its position in shares of Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 168 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at $119,000. FTB Advisors Inc. increased its holdings in shares of Akamai Technologies by 2.4% in the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after acquiring an additional 59 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Akamai Technologies by 79.4% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after acquiring an additional 1,032 shares during the period. Institutional investors own 84.41% of the company’s stock.
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In other Akamai Technologies news, SVP Aaron Ahola sold 2,893 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the sale, the senior vice president now owns 8,046 shares of the company’s stock, valued at $421,932.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton acquired 21,554 shares of the stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $46.91 per share, with a total value of $1,011,098.14. The disclosure for this purchase can be found here. Insiders sold 28,438 shares of company stock valued at $1,463,695 in the last ninety days. 3.20% of the stock is owned by corporate insiders.
Akamai Technologies, Inc. (NASDAQ AKAM) traded up $0.41 on Friday, reaching $54.26. 1,976,300 shares of the company were exchanged, compared to its average volume of 2,177,601. The firm has a market cap of $9,108.82, a P/E ratio of 28.05, a PEG ratio of 2.14 and a beta of 0.66. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.10 and a current ratio of 3.01.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. analysts expect that Akamai Technologies, Inc. will post 1.88 EPS for the current year.
A number of brokerages have recently commented on AKAM. Credit Suisse Group lifted their target price on shares of Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Cowen and Company reaffirmed a “hold” rating and issued a $59.00 target price on shares of Akamai Technologies in a report on Friday, October 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $54.00 target price (down from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 target price on shares of Akamai Technologies in a report on Wednesday, July 26th. Finally, Oppenheimer Holdings, Inc. dropped their price objective on shares of Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. Akamai Technologies has an average rating of “Hold” and an average target price of $60.73.
Akamai Technologies 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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