The Akamai Technologies Inc. (AKAM) Position Boosted by Shell Asset Management Co.

The Akamai Technologies Inc. (AKAM) Position Boosted by Shell Asset Management Co.

Shell Asset Management Co. boosted its position in Akamai Technologies Inc. (NASDAQ:AKAM) by 47.9% during the second quarter, Holdings Channel reports. The firm owned 12,934 shares of the technology infrastructure company’s stock after buying an additional 4,189 shares during the period. Shell Asset Management Co.’s holdings in Akamai Technologies were worth $723,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Akamai Technologies by 2.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,142 shares of the technology infrastructure company’s stock worth $119,000 after buying an additional 56 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of 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 worth $154,000 after buying an additional 250 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of 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 worth $159,000 after buying an additional 24 shares during the period. Independent Portfolio Consultants Inc. increased its stake in shares of 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 worth $172,000 after buying an additional 1,110 shares during the period. Finally, Avalon Advisors LLC purchased a new stake in shares of Akamai Technologies during the first quarter worth $355,000. 89.88% of the stock is owned by institutional investors.

Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded up 0.16% on Friday, reaching $54.95. 1,162,359 shares of the company traded hands. The stock’s 50 day moving average price is $53.41 and its 200-day moving average price is $53.25. Akamai Technologies Inc. has a one year low of $39.43 and a one year high of $76.39. The stock has a market capitalization of $9.60 billion, a P/E ratio of 30.16 and a beta of 1.49.

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

A number of analysts have recently weighed in on AKAM shares. Pacific Crest reaffirmed a “buy” rating and set a $71.00 price target on shares of Akamai Technologies in a report on Monday, July 11th. MKM Partners reaffirmed a “buy” rating and set a $68.00 price target on shares of Akamai Technologies in a report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Akamai Technologies in a report on Wednesday, June 15th. B. Riley reaffirmed a “buy” rating and set a $62.00 price target on shares of Akamai Technologies in a report on Wednesday, July 27th. Finally, SunTrust Banks Inc. initiated coverage on shares of Akamai Technologies in a report on Thursday, July 21st. They set a “buy” rating and a $66.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.50.

In other Akamai Technologies news, CEO F Thomson Leighton purchased 19,468 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $51.36 per share, with a total value of $999,876.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rick M. Mcconnell sold 3,550 shares of Akamai Technologies stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $58.00, for a total transaction of $205,900.00. Following the transaction, the insider now directly owns 48,926 shares in the company, valued at $2,837,708. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

About Akamai Technologies

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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