Mastrapasqua Asset Management Inc. Sells 4,381 Shares of Akamai Technologies, Inc. (AKAM)

Mastrapasqua Asset Management Inc. lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,051 shares of the technology infrastructure company’s stock after selling 4,381 shares during the quarter. Mastrapasqua Asset Management Inc.’s holdings in Akamai Technologies were worth $2,293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $65,270,000. Carret Asset Management LLC lifted its position in shares of Akamai Technologies by 17.3% during the 3rd quarter. Carret Asset Management LLC now owns 14,550 shares of the technology infrastructure company’s stock worth $709,000 after buying an additional 2,150 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Akamai Technologies by 5.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 38,199 shares of the technology infrastructure company’s stock worth $1,861,000 after buying an additional 1,880 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Akamai Technologies by 4.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 27,513 shares of the technology infrastructure company’s stock worth $1,346,000 after buying an additional 1,100 shares during the last quarter. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $3,996,000. Institutional investors own 86.57% of the company’s stock.

Akamai Technologies, Inc. (AKAM) opened at $56.44 on Friday. The company has a market cap of $9,490.00, a price-to-earnings ratio of 29.40, a PEG ratio of 2.23 and a beta of 0.68. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $71.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. analysts predict that Akamai Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. Vetr downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective for the company. in a research report on Wednesday, September 13th. MKM Partners boosted their price objective on shares of Akamai Technologies to $65.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Piper Jaffray Companies restated a “buy” rating and set a $60.00 price objective on shares of Akamai Technologies in a research report on Wednesday, October 25th. Wells Fargo & Company restated a “market perform” rating and set a $62.00 price objective (up previously from $57.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. Finally, Cowen restated a “hold” rating and set a $59.00 price objective on shares of Akamai Technologies in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $59.59.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 2,743 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $55.00, for a total value of $150,865.00. Following the transaction, the insider now directly owns 37,010 shares of the company’s stock, valued at approximately $2,035,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. Insiders sold a total of 31,181 shares of company stock worth $1,614,560 over the last ninety days. 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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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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