Ingalls & Snyder LLC Increases Position in Akamai Technologies, Inc. (AKAM)

Ingalls & Snyder LLC boosted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 69,545 shares of the technology infrastructure company’s stock after buying an additional 1,467 shares during the period. Ingalls & Snyder LLC’s holdings in Akamai Technologies were worth $4,987,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Focused Wealth Management Inc bought a new position in Akamai Technologies during the fourth quarter valued at about $29,000. Liberty Wealth Management LLC bought a new stake in Akamai Technologies during the fourth quarter worth about $32,000. Private Capital Group LLC raised its holdings in Akamai Technologies by 148.5% during the fourth quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock worth $40,000 after acquiring an additional 395 shares in the last quarter. Fort L.P. bought a new stake in Akamai Technologies during the fourth quarter worth about $82,000. Finally, Captrust Financial Advisors raised its holdings in Akamai Technologies by 394.2% during the third quarter. Captrust Financial Advisors now owns 1,448 shares of the technology infrastructure company’s stock worth $106,000 after acquiring an additional 1,155 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on AKAM. Evercore ISI began coverage on Akamai Technologies in a report on Thursday, March 21st. They set an “in-line” rating and a $70.00 target price on the stock. KeyCorp upped their target price on Akamai Technologies from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday. Deutsche Bank lowered Akamai Technologies from a “hold” rating to a “sell” rating and set a $58.00 target price on the stock. in a report on Monday, March 25th. Credit Suisse Group dropped their price objective on Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 13th. Finally, Zacks Investment Research lowered Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.71.

In other Akamai Technologies news, EVP Robert Blumofe sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $69.73, for a total value of $697,300.00. Following the sale, the executive vice president now owns 18,112 shares of the company’s stock, valued at approximately $1,262,949.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Monte E. Ford sold 24,721 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $72.41, for a total value of $1,790,047.61. Following the completion of the sale, the director now directly owns 41,012 shares in the company, valued at approximately $2,969,678.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,872 shares of company stock worth $6,754,765. 3.20% of the stock is owned by corporate insiders.

Shares of NASDAQ AKAM traded up $0.34 during trading hours on Thursday, reaching $75.43. 576,786 shares of the stock were exchanged, compared to its average volume of 1,300,143. The firm has a market cap of $12.25 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 1.63 and a beta of 0.56. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.27. Akamai Technologies, Inc. has a 52 week low of $57.18 and a 52 week high of $83.08.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.07. The company had revenue of $713.36 million for the quarter, compared to analyst estimates of $703.74 million. Akamai Technologies had a return on equity of 13.81% and a net margin of 10.99%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. Analysts forecast that Akamai Technologies, Inc. will post 3.11 EPS for the current year.

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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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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

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