Comerica Bank Grows Holdings in Akamai Technologies, Inc. (AKAM)

Comerica Bank raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.4% in the 1st quarter, Holdings Channel reports. The firm owned 55,785 shares of the technology infrastructure company’s stock after acquiring an additional 4,799 shares during the period. Comerica Bank’s holdings in Akamai Technologies were worth $4,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in shares of Akamai Technologies by 5,021.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,029,933 shares of the technology infrastructure company’s stock valued at $33,000 after buying an additional 1,990,300 shares in the last quarter. Norges Bank purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $100,218,000. Millennium Management LLC raised its position in shares of Akamai Technologies by 220.0% during the 4th quarter. Millennium Management LLC now owns 2,351,173 shares of the technology infrastructure company’s stock valued at $143,610,000 after buying an additional 1,616,320 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Akamai Technologies by 6,712.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,108,781 shares of the technology infrastructure company’s stock valued at $67,724,000 after buying an additional 1,092,506 shares in the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC raised its position in shares of Akamai Technologies by 13,750.6% during the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 582,142 shares of the technology infrastructure company’s stock valued at $35,557,000 after buying an additional 577,939 shares in the last quarter. 88.56% of the stock is owned by institutional investors and hedge funds.

AKAM has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, February 18th. B. Riley restated a “buy” rating and set a $102.00 target price (down from $105.00) on shares of Akamai Technologies in a research report on Wednesday, February 13th. BidaskClub upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Needham & Company LLC started coverage on shares of Akamai Technologies in a research report on Monday, April 22nd. They set a “buy” rating and a $95.00 target price on the stock. Finally, Craig Hallum reissued a “buy” rating and issued a $92.00 price objective (up from $82.00) on shares of Akamai Technologies in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.47.

In other news, Director Monte E. Ford sold 24,721 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $72.41, for a total transaction of $1,790,047.61. Following the transaction, the director now directly owns 41,012 shares of the company’s stock, valued at $2,969,678.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rick M. Mcconnell sold 22,775 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $70.88, for a total transaction of $1,614,292.00. Following the transaction, the insider now directly owns 26,533 shares in the company, valued at $1,880,659.04. The disclosure for this sale can be found here. Insiders sold a total of 95,194 shares of company stock worth $6,935,108 over the last three months. 2.40% of the stock is currently owned by corporate insiders.

Akamai Technologies stock opened at $77.92 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.19 and a current ratio of 3.19. Akamai Technologies, Inc. has a 1-year low of $57.18 and a 1-year high of $86.19. The stock has a market capitalization of $12.57 billion, a P/E ratio of 25.63, a PEG ratio of 1.63 and a beta of 0.60.

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