J.P. Marvel Investment Advisors LLC Grows Stake in Akamai Technologies, Inc. (AKAM)

J.P. Marvel Investment Advisors LLC lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 81,335 shares of the technology infrastructure company’s stock after acquiring an additional 9,895 shares during the quarter. Akamai Technologies comprises 1.8% of J.P. Marvel Investment Advisors LLC’s holdings, making the stock its 20th biggest position. J.P. Marvel Investment Advisors LLC’s holdings in Akamai Technologies were worth $5,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. GAM Holding AG raised its holdings in shares of Akamai Technologies by 4.1% during the second quarter. GAM Holding AG now owns 16,527 shares of the technology infrastructure company’s stock worth $1,210,000 after acquiring an additional 651 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Akamai Technologies by 2.9% during the first quarter. First Republic Investment Management Inc. now owns 23,987 shares of the technology infrastructure company’s stock worth $1,702,000 after acquiring an additional 670 shares in the last quarter. Oakbrook Investments LLC raised its holdings in shares of Akamai Technologies by 5.5% during the second quarter. Oakbrook Investments LLC now owns 13,470 shares of the technology infrastructure company’s stock worth $986,000 after acquiring an additional 700 shares in the last quarter. Atria Investments LLC raised its holdings in shares of Akamai Technologies by 13.2% during the second quarter. Atria Investments LLC now owns 6,139 shares of the technology infrastructure company’s stock worth $450,000 after acquiring an additional 716 shares in the last quarter. Finally, Wedbush Securities Inc. raised its holdings in shares of Akamai Technologies by 18.5% during the second quarter. Wedbush Securities Inc. now owns 4,710 shares of the technology infrastructure company’s stock worth $345,000 after acquiring an additional 735 shares in the last quarter. 86.11% of the stock is owned by institutional investors and hedge funds.

NASDAQ AKAM opened at $75.80 on Monday. Akamai Technologies, Inc. has a fifty-two week low of $46.49 and a fifty-two week high of $83.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 39.89, a P/E/G ratio of 2.10 and a beta of 0.51.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The company had revenue of $663.00 million for the quarter, compared to analyst estimates of $661.13 million. Akamai Technologies had a return on equity of 10.63% and a net margin of 6.74%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. analysts anticipate that Akamai Technologies, Inc. will post 2.47 earnings per share for the current fiscal year.

Several analysts recently issued reports on AKAM shares. Zacks Investment Research lowered Akamai Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 29th. B. Riley cut their price objective on Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating for the company in a report on Monday, July 23rd. Piper Jaffray Companies reiterated an “overweight” rating and set a $89.00 price objective on shares of Akamai Technologies in a report on Friday, July 20th. Robert W. Baird reiterated a “hold” rating and set a $77.00 price objective on shares of Akamai Technologies in a report on Wednesday, August 1st. Finally, ValuEngine upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $77.29.

In other news, SVP Aaron Ahola sold 4,500 shares of Akamai Technologies stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $74.00, for a total value of $333,000.00. Following the transaction, the senior vice president now directly owns 8,578 shares in the company, valued at $634,772. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Sagan sold 39,092 shares of Akamai Technologies stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $75.19, for a total value of $2,939,327.48. The disclosure for this sale can be found here. Insiders sold 154,313 shares of company stock worth $11,800,812 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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