Dupont Capital Management Corp trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 30.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,465 shares of the technology infrastructure company’s stock after selling 1,100 shares during the period. Dupont Capital Management Corp’s holdings in Akamai Technologies were worth $225,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Washington Capital Management Inc. acquired a new position in shares of Akamai Technologies during the third quarter valued at $265,000. Teacher Retirement System of Texas increased its holdings in shares of Akamai Technologies by 20.1% during the third quarter. Teacher Retirement System of Texas now owns 262,209 shares of the technology infrastructure company’s stock valued at $23,961,000 after purchasing an additional 43,940 shares during the period. Chesapeake Wealth Management acquired a new position in shares of Akamai Technologies during the third quarter valued at $700,000. Davis R M Inc. increased its holdings in shares of Akamai Technologies by 300.4% during the third quarter. Davis R M Inc. now owns 188,813 shares of the technology infrastructure company’s stock valued at $17,254,000 after purchasing an additional 141,662 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in shares of Akamai Technologies by 3.8% during the third quarter. Raymond James Trust N.A. now owns 4,538 shares of the technology infrastructure company’s stock valued at $415,000 after purchasing an additional 168 shares during the period. 87.86% of the stock is currently owned by institutional investors.
In other Akamai Technologies news, EVP Aaron Ahola sold 3,117 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $90.24, for a total transaction of $281,278.08. Following the completion of the sale, the executive vice president now directly owns 4,109 shares in the company, valued at approximately $370,796.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ewout L. Steenbergen sold 1,760 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $251.19, for a total value of $442,094.40. Insiders have sold a total of 13,877 shares of company stock valued at $1,505,202 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.
A number of research analysts have recently commented on the company. Royal Bank of Canada raised their price target on Akamai Technologies from $83.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, October 29th. DA Davidson raised their price target on Akamai Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BidaskClub lowered Akamai Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Akamai Technologies in a report on Monday, October 28th. Finally, Oppenheimer raised their price target on Akamai Technologies from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Akamai Technologies presently has an average rating of “Hold” and a consensus target price of $92.19.
Shares of AKAM opened at $84.53 on Friday. The business’s 50-day moving average price is $89.40 and its 200 day moving average price is $84.22. The stock has a market capitalization of $14.48 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.13 and a beta of 0.61. Akamai Technologies, Inc. has a 1-year low of $57.18 and a 1-year high of $93.12. The company has a current ratio of 3.74, a quick ratio of 2.95 and a debt-to-equity ratio of 0.61.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.10. The firm had revenue of $709.91 million for the quarter, compared to analysts’ expectations of $701.25 million. Akamai Technologies had a return on equity of 16.76% and a net margin of 15.98%. Akamai Technologies’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, research analysts predict that Akamai Technologies, Inc. will post 3.44 earnings per share for the current year.
Akamai Technologies Company 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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