TCW Group Inc. reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,186 shares of the technology infrastructure company’s stock after selling 1,178 shares during the period. TCW Group Inc.’s holdings in Akamai Technologies were worth $728,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its holdings in shares of Akamai Technologies by 1.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,439,744 shares of the technology infrastructure company’s stock worth $70,144,000 after buying an additional 17,892 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Akamai Technologies during the 3rd quarter worth $65,270,000. Dimensional Fund Advisors LP boosted its holdings in shares of Akamai Technologies by 6.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 954,560 shares of the technology infrastructure company’s stock worth $46,493,000 after buying an additional 57,089 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Akamai Technologies by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 846,317 shares of the technology infrastructure company’s stock worth $55,045,000 after buying an additional 37,303 shares during the period. Finally, Legal & General Group Plc raised its stake in Akamai Technologies by 3.9% during the 3rd quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock valued at $41,155,000 after purchasing an additional 31,911 shares during the last quarter. 84.77% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on AKAM shares. TheStreet upgraded shares of Akamai Technologies from a “c” rating to a “b-” rating in a research note on Tuesday, November 14th. Guggenheim upped their target price on shares of Akamai Technologies from $58.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $59.00 target price on shares of Akamai Technologies in a research note on Monday, December 4th. Finally, MKM Partners upped their target price on shares of Akamai Technologies to $65.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $69.03.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $67.36 on Friday. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $69.56. The stock has a market cap of $11,206.30, a price-to-earnings ratio of 53.89, a PEG ratio of 2.37 and a beta of 0.71. The company has a quick ratio of 3.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $649.08 million. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue was up 7.7% on a year-over-year basis. sell-side analysts forecast that Akamai Technologies, Inc. will post 2.18 earnings per share for the current year.
In other news, CEO F Thomson Leighton bought 17,537 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $57.01 per share, for a total transaction of $999,784.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William Wheaton sold 10,000 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.29, for a total transaction of $662,900.00. Following the sale, the insider now owns 32,319 shares of the company’s stock, valued at approximately $2,142,426.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,799 shares of company stock valued at $3,976,520. Corporate insiders own 3.20% of the company’s stock.
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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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