Public Employees Retirement System of Ohio cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 205,367 shares of the technology infrastructure company’s stock after selling 3,415 shares during the period. Public Employees Retirement System of Ohio’s holdings in Akamai Technologies were worth $15,039,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of AKAM. KBC Group NV boosted its stake in Akamai Technologies by 11.2% during the first quarter. KBC Group NV now owns 96,545 shares of the technology infrastructure company’s stock worth $6,853,000 after acquiring an additional 9,759 shares in the last quarter. Federated Investors Inc. PA bought a new position in shares of Akamai Technologies in the first quarter valued at $225,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Akamai Technologies by 35.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,529 shares of the technology infrastructure company’s stock valued at $605,000 after buying an additional 2,248 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Akamai Technologies by 143.4% in the first quarter. IFP Advisors Inc now owns 1,743 shares of the technology infrastructure company’s stock valued at $124,000 after buying an additional 1,027 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Akamai Technologies by 25.5% in the first quarter. Toronto Dominion Bank now owns 91,596 shares of the technology infrastructure company’s stock valued at $6,501,000 after buying an additional 18,598 shares in the last quarter. 85.99% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Naomi O. Seligman sold 7,855 shares of the firm’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $74.00, for a total transaction of $581,270.00. Following the completion of the sale, the director now owns 6,023 shares in the company, valued at $445,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adam Karon sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the sale, the executive vice president now owns 13,035 shares of the company’s stock, valued at approximately $977,625. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,313 shares of company stock valued at $11,800,812. 3.20% of the stock is currently owned by corporate insiders.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $661.13 million. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. equities research analysts anticipate that Akamai Technologies, Inc. will post 2.47 earnings per share for the current fiscal year.
A number of research analysts have weighed in on AKAM shares. BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Zacks Investment Research lowered shares of Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 29th. ValuEngine lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $89.00 price objective on shares of Akamai Technologies in a research note on Friday, July 20th. Finally, B. Riley dropped their price objective on shares of Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating on the stock in a research note on Monday, July 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.29.
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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