Akamai Technologies, Inc. (NASDAQ:AKAM) Holdings Trimmed by DNB Asset Management AS

DNB Asset Management AS reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,429 shares of the technology infrastructure company’s stock after selling 1,731 shares during the quarter. DNB Asset Management AS’s holdings in Akamai Technologies were worth $1,250,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc grew its holdings in Akamai Technologies by 0.4% during 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 purchasing an additional 63,759 shares during the period. Clearbridge Investments LLC grew its holdings in Akamai Technologies by 1.0% during 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 purchasing an additional 90,270 shares during the period. Canada Pension Plan Investment Board grew its holdings in Akamai Technologies by 10.9% during 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 purchasing an additional 465,230 shares during the period. Elliott Management Corp grew its holdings in Akamai Technologies by 19.2% during the fourth quarter. Elliott Management Corp now owns 2,383,468 shares of the technology infrastructure company’s stock valued at $145,582,000 after purchasing an additional 383,468 shares during the period. Finally, Millennium Management LLC grew its holdings in Akamai Technologies by 220.0% during the fourth quarter. Millennium Management LLC now owns 2,351,173 shares of the technology infrastructure company’s stock valued at $143,610,000 after purchasing an additional 1,616,320 shares during the period. 88.10% of the stock is owned by hedge funds and other institutional investors.

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 5,520 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $72.40, for a total transaction of $399,648.00. Following the completion of the transaction, the chief financial officer now owns 15,134 shares of the company’s stock, valued at approximately $1,095,701.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Blumofe sold 10,000 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $69.73, for a total transaction of $697,300.00. Following the transaction, the executive vice president now directly owns 18,112 shares of the company’s stock, valued at approximately $1,262,949.76. The disclosure for this sale can be found here. Insiders sold a total of 112,930 shares of company stock valued at $8,185,826 in the last ninety days. 2.40% of the stock is currently owned by insiders.

Several equities analysts have weighed in on the company. ValuEngine raised Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Craig Hallum reaffirmed a “buy” rating and issued a $92.00 price target (up from $82.00) on shares of Akamai Technologies in a report on Wednesday, May 1st. Piper Jaffray Companies lifted their price objective on Akamai Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. KeyCorp lifted their price objective on Akamai Technologies from $80.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Akamai Technologies presently has an average rating of “Buy” and an average target price of $82.47.

Shares of NASDAQ:AKAM traded up $0.48 during midday trading on Friday, hitting $76.63. The company had a trading volume of 897,992 shares, compared to its average volume of 1,352,703. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.19 and a quick ratio of 2.09. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.62 and a beta of 0.60. Akamai Technologies, Inc. has a 12-month low of $57.18 and a 12-month high of $86.19.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. The firm had revenue of $706.51 million during the quarter, compared to analyst estimates of $698.33 million. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. Akamai Technologies’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 EPS. On average, equities research analysts expect that Akamai Technologies, Inc. will post 3.21 earnings per share for the current fiscal year.

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

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