Two Sigma Advisers LP cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 927,869 shares of the technology infrastructure company’s stock after selling 292,776 shares during the period. Two Sigma Advisers LP owned approximately 0.55% of Akamai Technologies worth $60,349,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of AKAM. CenterStar Asset Management LLC bought a new position in Akamai Technologies in the fourth quarter worth approximately $114,000. Avestar Capital LLC bought a new stake in Akamai Technologies during the 4th quarter valued at $131,000. Delpha Capital Management LLC bought a new stake in Akamai Technologies during the 4th quarter valued at $177,000. Wealth Architects LLC bought a new stake in Akamai Technologies during the 4th quarter valued at $202,000. Finally, Welch & Forbes LLC bought a new stake in Akamai Technologies during the 4th quarter valued at $203,000. Institutional investors and hedge funds own 89.09% of the company’s stock.
A number of equities analysts recently issued reports on AKAM shares. Deutsche Bank restated a “buy” rating and issued a $75.00 target price on shares of Akamai Technologies in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, January 2nd. Guggenheim lifted their price target on 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 Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Vetr upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $68.08 price objective on the stock in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $69.96.
In related news, EVP James Gemmell sold 8,430 shares of Akamai Technologies stock in a transaction on Friday, February 16th. The shares were sold at an average price of $67.00, for a total transaction of $564,810.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rick M. Mcconnell sold 12,618 shares of Akamai Technologies stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $69.76, for a total transaction of $880,231.68. Following the sale, the insider now directly owns 32,434 shares in the company, valued at approximately $2,262,595.84. The disclosure for this sale can be found here. In the last three months, insiders sold 34,427 shares of company stock worth $2,388,359. Insiders own 3.20% of the company’s stock.
Shares of NASDAQ AKAM opened at $69.34 on Friday. Akamai Technologies, Inc. has a 1 year low of $44.65 and a 1 year high of $78.28. The company has a market cap of $11,971.93, a P/E ratio of 36.49, a PEG ratio of 2.47 and a beta of 0.67. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $649.08 million. During the same quarter last year, the business earned $0.72 EPS. Akamai Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. sell-side analysts anticipate that Akamai Technologies, Inc. will post 2.22 earnings per share for the current year.
Akamai Technologies announced that its board has authorized a stock buyback program on Thursday, March 8th that authorizes the company to repurchase $417.00 million in shares. This repurchase authorization authorizes the technology infrastructure company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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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