National Pension Service raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,361 shares of the technology infrastructure company’s stock after purchasing an additional 12,005 shares during the period. National Pension Service owned 0.13% of Akamai Technologies worth $15,385,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in AKAM. Vanguard Group Inc lifted its holdings in Akamai Technologies by 0.4% in the third quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock valued at $1,250,409,000 after acquiring an additional 63,759 shares during the period. Clearbridge Investments LLC lifted its holdings in Akamai Technologies by 1.0% in the third quarter. Clearbridge Investments LLC now owns 8,773,583 shares of the technology infrastructure company’s stock valued at $641,788,000 after acquiring an additional 90,270 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Akamai Technologies by 10.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,719,117 shares of the technology infrastructure company’s stock valued at $288,219,000 after buying an additional 465,230 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of Akamai Technologies by 1.1% in the third quarter. King Luther Capital Management Corp now owns 2,326,575 shares of the technology infrastructure company’s stock valued at $170,189,000 after buying an additional 25,210 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Akamai Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 2,150,566 shares of the technology infrastructure company’s stock valued at $131,125,000 after buying an additional 43,330 shares in the last quarter. Institutional investors own 88.69% of the company’s stock.
In related news, insider Rick M. Mcconnell sold 1,376 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $76.00, for a total transaction of $104,576.00. Following the transaction, the insider now directly owns 21,393 shares of the company’s stock, valued at approximately $1,625,868. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Blumofe sold 10,000 shares of Akamai Technologies stock in a transaction that occurred 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 in the company, valued at $1,262,949.76. The disclosure for this sale can be found here. Insiders have sold a total of 98,398 shares of company stock worth $7,020,849 over the last three months. 2.40% of the stock is currently owned by corporate insiders.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The business 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 company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. On average, equities research analysts expect that Akamai Technologies, Inc. will post 3.13 EPS for the current fiscal year.
A number of research analysts have recently weighed in on AKAM shares. 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. Morgan Stanley upgraded Akamai Technologies from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $82.00 to $79.00 in a research report on Tuesday, January 15th. BidaskClub upgraded Akamai Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 19th. 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. Finally, Craig Hallum dropped their price objective 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 analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $80.71.
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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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