Truvestments Capital LLC acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 400 shares of the technology infrastructure company’s stock, valued at approximately $29,000.
Other institutional investors also recently added to or reduced their stakes in the company. Focused Wealth Management Inc purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $29,000. Liberty Wealth Management LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $32,000. Private Capital Group LLC raised its stake in shares of 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 purchasing an additional 395 shares during the last quarter. Fort L.P. purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $82,000. Finally, Captrust Financial Advisors raised its position in Akamai Technologies by 394.2% in 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. Institutional investors and hedge funds own 88.69% of the company’s stock.
Several research analysts have issued reports on AKAM shares. BidaskClub cut Akamai Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 27th. Cowen cut Akamai Technologies from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $86.00 to $73.00 in a research report on Wednesday, January 2nd. Piper Jaffray Companies dropped their price target on Akamai Technologies to $84.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. Zacks Investment Research cut Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Craig Hallum dropped their price target on Akamai Technologies from $91.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $80.71.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Akamai Technologies had a return on equity of 13.81% and a net margin of 10.99%. The firm had revenue of $713.36 million for the quarter, compared to analyst estimates of $703.74 million. During the same period last year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Akamai Technologies, Inc. will post 3.11 earnings per share for the current year.
In other news, insider Rick M. Mcconnell sold 1,376 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $76.00, for a total value of $104,576.00. Following the transaction, the insider now directly owns 21,393 shares in the company, valued at approximately $1,625,868. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Aaron Ahola sold 2,157 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $70.16, for a total value of $151,335.12. Following the completion of the transaction, the senior vice president now owns 4,035 shares in the company, valued at $283,095.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,398 shares of company stock worth $7,020,849. 2.40% of the stock is owned by corporate insiders.
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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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