The Whittier Trust Co. of Nevada Inc. reached $118,000 position of Akamai Technologies Inc. (AKAM)

The Whittier Trust Co. of Nevada Inc. reached $118,000 position  of Akamai Technologies Inc. (AKAM)

Whittier Trust Co. of Nevada Inc. continued to hold its stake in shares of Akamai Technologies Inc. (NASDAQ:AKAM) during the second quarter, Holdings Channel reports. The firm owned 2,109 shares of the technology infrastructure company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Akamai Technologies were worth $118,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC increased its position in Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock valued at $102,000 after buying an additional 175 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Akamai Technologies by 10.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,750 shares of the technology infrastructure company’s stock valued at $154,000 after buying an additional 250 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Akamai Technologies by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock valued at $159,000 after buying an additional 24 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in Akamai Technologies by 56.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,070 shares of the technology infrastructure company’s stock valued at $172,000 after buying an additional 1,110 shares in the last quarter. Finally, Financial Architects Inc increased its position in Akamai Technologies by 525.8% in the second quarter. Financial Architects Inc now owns 3,755 shares of the technology infrastructure company’s stock valued at $210,000 after buying an additional 3,155 shares in the last quarter. 89.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded up 0.22% during mid-day trading on Thursday, reaching $54.40. The company’s stock had a trading volume of 919,860 shares. Akamai Technologies Inc. has a 1-year low of $39.43 and a 1-year high of $76.39. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 29.86 and a beta of 1.49. The company’s 50 day moving average price is $53.53 and its 200-day moving average price is $53.23.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.64. The company earned $572 million during the quarter, compared to the consensus estimate of $574.86 million. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. Akamai Technologies’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Analysts predict that Akamai Technologies Inc. will post $2.57 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the company. MKM Partners reissued a “buy” rating and set a $68.00 target price on shares of Akamai Technologies in a research report on Saturday, July 9th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Akamai Technologies in a research report on Sunday, July 17th. B. Riley reissued a “buy” rating and set a $62.00 target price on shares of Akamai Technologies in a research report on Monday, August 1st. Goldman Sachs Group Inc. boosted their target price on Akamai Technologies from $43.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, July 27th. Finally, Pacific Crest reissued a “buy” rating and set a $71.00 target price on shares of Akamai Technologies in a research report on Monday, July 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $61.50.

In other news, EVP Melanie Haratunian sold 12,129 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $56.00, for a total value of $679,224.00. Following the completion of the sale, the executive vice president now directly owns 101,253 shares of the company’s stock, valued at approximately $5,670,168. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO F Thomson Leighton bought 17,456 shares of Akamai Technologies stock in a transaction dated Friday, July 15th. The stock was purchased at an average cost of $57.28 per share, with a total value of $999,879.68. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

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