Akamai Technologies, Inc. (AKAM) Stake Lessened by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 42.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,513 shares of the technology infrastructure company’s stock after selling 1,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Akamai Technologies were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Exane Derivatives purchased a new position in shares of Akamai Technologies in the 3rd quarter worth about $101,000. Flagship Harbor Advisors LLC bought a new stake in Akamai Technologies in the 2nd quarter worth about $102,000. Piedmont Investment Advisors LLC bought a new stake in Akamai Technologies in the 2nd quarter worth about $142,000. Whittier Trust Co. increased its holdings in Akamai Technologies by 61.7% in the 2nd quarter. Whittier Trust Co. now owns 2,266 shares of the technology infrastructure company’s stock worth $138,000 after buying an additional 865 shares in the last quarter. Finally, S&CO Inc. bought a new stake in Akamai Technologies in the 2nd quarter worth about $205,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. ValuEngine downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies set a $94.00 price objective on Akamai Technologies and gave the stock a “buy” rating in a report on Tuesday, October 30th. Deutsche Bank reduced their price objective on Akamai Technologies from $73.00 to $66.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. B. Riley lifted their price objective on Akamai Technologies from $97.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, Credit Suisse Group set a $77.00 price objective on Akamai Technologies and gave the stock a “hold” rating in a report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Buy” and an average price target of $80.29.

In other Akamai Technologies news, EVP Robert Blumofe sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $73.34, for a total transaction of $293,360.00. Following the completion of the sale, the executive vice president now directly owns 15,951 shares in the company, valued at approximately $1,169,846.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Aaron Ahola sold 1,123 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $73.63, for a total value of $82,686.49. Following the sale, the senior vice president now owns 4,035 shares of the company’s stock, valued at $297,097.05. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

Akamai Technologies stock opened at $68.95 on Tuesday. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.84 and a beta of 0.56. Akamai Technologies, Inc. has a 52-week low of $52.92 and a 52-week high of $83.08. The company has a quick ratio of 2.19, a current ratio of 2.03 and a debt-to-equity ratio of 0.27.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Monday, October 29th. The technology infrastructure company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. The business had revenue of $669.63 million during the quarter, compared to the consensus estimate of $664.17 million. Akamai Technologies had a return on equity of 12.06% and a net margin of 8.39%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 2.66 earnings per share for the current fiscal year.

Akamai Technologies announced that its board has initiated a share buyback plan on Monday, October 29th that permits the company to buyback $1.10 billion in shares. This buyback authorization permits the technology infrastructure company to repurchase up to 10.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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Akamai Technologies 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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