Alpha Cubed Investments LLC grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,318 shares of the technology infrastructure company’s stock after acquiring an additional 197 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Akamai Technologies were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. CENTRAL TRUST Co bought a new position in Akamai Technologies during the first quarter worth $25,000. Ballast Advisors LLC acquired a new stake in Akamai Technologies in the 1st quarter worth $27,000. Baystate Wealth Management LLC bought a new position in shares of Akamai Technologies during the 1st quarter worth about $27,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Akamai Technologies during the first quarter valued at about $27,000. Finally, AllSquare Wealth Management LLC bought a new stake in shares of Akamai Technologies in the first quarter valued at about $35,000. Institutional investors and hedge funds own 86.99% of the company’s stock.
In other news, CFO Edward J. Mcgowan sold 4,068 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $98.00, for a total transaction of $398,664.00. Following the transaction, the chief financial officer now owns 17,459 shares of the company’s stock, valued at $1,710,982. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 2,516 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $116.00, for a total value of $291,856.00. Following the completion of the transaction, the chief financial officer now owns 5,129 shares in the company, valued at approximately $594,964. The disclosure for this sale can be found here. Insiders sold a total of 45,092 shares of company stock worth $4,533,790 over the last quarter. Corporate insiders own 2.40% of the company’s stock.
Shares of NASDAQ:AKAM opened at $109.94 on Tuesday. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.69. The firm has a market cap of $18.54 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.36 and a beta of 0.34. Akamai Technologies, Inc. has a 12 month low of $75.18 and a 12 month high of $116.39. The company’s 50-day moving average price is $104.92 and its two-hundred day moving average price is $97.20.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, April 28th. The technology infrastructure company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. The company had revenue of $764.30 million for the quarter, compared to analyst estimates of $749.75 million. Akamai Technologies had a net margin of 16.74% and a return on equity of 16.54%. Akamai Technologies’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. As a group, equities analysts predict that Akamai Technologies, Inc. will post 3.93 earnings per share for the current fiscal year.
Several equities analysts have commented on the company. Credit Suisse Group reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Wednesday, April 29th. Tigress Financial restated a “buy” rating on shares of Akamai Technologies in a research note on Tuesday, May 26th. Zacks Investment Research downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $103.00 price target on the stock. in a research note on Thursday, April 30th. Evercore ISI initiated coverage on shares of Akamai Technologies in a research note on Monday, April 20th. They issued an “outperform” rating and a $120.00 price objective for the company. Finally, Craig Hallum raised their price objective on shares of Akamai Technologies from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $112.00.
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.
Featured Article: What is Compound Annual Growth Rate (CAGR)?
Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM).
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.