Northpointe Capital LLC trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 21.5% in the first quarter, HoldingsChannel.com reports. The fund owned 42,489 shares of the technology infrastructure company’s stock after selling 11,623 shares during the period. Northpointe Capital LLC’s holdings in Akamai Technologies were worth $3,047,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Akamai Technologies in the first quarter valued at about $29,000. Focused Wealth Management Inc acquired a new position in Akamai Technologies in the fourth quarter valued at about $29,000. Liberty Wealth Management LLC acquired a new position in Akamai Technologies in the fourth quarter valued at about $32,000. Private Capital Group LLC grew its stake in Akamai Technologies by 148.5% in the fourth quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock valued at $40,000 after acquiring an additional 395 shares during the period. Finally, Fort L.P. acquired a new position in Akamai Technologies in the fourth quarter valued at about $82,000. 88.69% of the stock is owned by hedge funds and other institutional investors.
AKAM has been the subject of a number of research analyst reports. Morgan Stanley raised Akamai Technologies from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $82.00 to $79.00 in a research note on Tuesday, January 15th. Evercore ISI initiated coverage on Akamai Technologies in a research note on Thursday, March 21st. They issued an “in-line” rating and a $70.00 target price for the company. Deutsche Bank cut Akamai Technologies from a “hold” rating to a “sell” rating and set a $58.00 target price for the company. in a research note on Monday, March 25th. Craig Hallum cut their price target on Akamai Technologies from $91.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, January 9th. Finally, Zacks Investment Research lowered Akamai Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $80.71.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. Akamai Technologies had a return on equity of 13.81% and a net margin of 10.99%. The business had revenue of $713.36 million for the quarter, compared to analyst estimates of $703.74 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. Akamai Technologies’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Akamai Technologies, Inc. will post 3.11 EPS for the current year.
In other Akamai Technologies news, CFO Edward J. Mcgowan sold 2,150 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $75.12, for a total transaction of $161,508.00. Following the transaction, the chief financial officer now owns 12,984 shares of the company’s stock, valued at $975,358.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James Gemmell sold 9,579 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $70.16, for a total value of $672,062.64. Following the transaction, the executive vice president now directly owns 11,504 shares in the company, valued at approximately $807,120.64. The disclosure for this sale can be found here. Insiders have sold 98,398 shares of company stock worth $7,020,849 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.
About Akamai Technologies
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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