Today, Akamai Technologies Inc. (AKAM) Position Increased by Howland Capital Management LLC

Today, Akamai Technologies Inc. (AKAM) Position Increased by Howland Capital Management LLC

Howland Capital Management LLC increased its stake in Akamai Technologies Inc. (NASDAQ:AKAM) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,862 shares of the technology infrastructure company’s stock after buying an additional 3,739 shares during the period. Howland Capital Management LLC’s holdings in Akamai Technologies were worth $13,452,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Akamai Technologies by 0.4% in the first quarter. Arizona State Retirement System now owns 47,918 shares of the technology infrastructure company’s stock valued at $2,663,000 after buying an additional 200 shares during the period. Avalon Advisors LLC bought a new position in shares of Akamai Technologies during the first quarter valued at approximately $355,000. BlueMountain Capital Management LLC raised its position in shares of Akamai Technologies by 424.8% in the first quarter. BlueMountain Capital Management LLC now owns 11,173 shares of the technology infrastructure company’s stock valued at $621,000 after buying an additional 9,044 shares during the period. British Columbia Investment Management Corp raised its position in shares of Akamai Technologies by 20.9% in the second quarter. British Columbia Investment Management Corp now owns 131,571 shares of the technology infrastructure company’s stock valued at $7,359,000 after buying an additional 22,752 shares during the period. Finally, DNB Asset Management AS raised its position in shares of Akamai Technologies by 4.0% in the second quarter. DNB Asset Management AS now owns 10,506 shares of the technology infrastructure company’s stock valued at $588,000 after buying an additional 400 shares during the period. 90.41% of the stock is owned by hedge funds and other institutional investors.

Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded down 1.00% during trading on Monday, reaching $66.28. 649,716 shares of the company were exchanged. The stock has a market capitalization of $11.49 billion, a P/E ratio of 37.64 and a beta of 0.94. The stock has a 50-day moving average of $62.84 and a 200 day moving average of $55.80. Akamai Technologies Inc. has a 52-week low of $39.43 and a 52-week high of $71.04.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, October 25th. The technology infrastructure company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.07. Akamai Technologies had a net margin of 13.59% and a return on equity of 11.61%. The firm had revenue of $584.10 million for the quarter, compared to the consensus estimate of $571.92 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Akamai Technologies Inc. will post $2.66 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and set a $62.00 price objective on shares of Akamai Technologies in a research note on Monday, August 1st. Pacific Crest reiterated a “hold” rating on shares of Akamai Technologies in a research note on Tuesday, August 2nd. Piper Jaffray Cos. reiterated a “buy” rating and set a $64.00 price objective on shares of Akamai Technologies in a research note on Tuesday, August 9th. Wells Fargo & Co. upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $59.20 to $51.41 in a research note on Friday, August 12th. Finally, Zacks Investment Research upgraded shares of Akamai Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.97.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 7,545 shares of Akamai Technologies stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $55.29, for a total transaction of $417,163.05. Following the sale, the insider now owns 41,381 shares in the company, valued at $2,287,955.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Blumofe sold 2,000 shares of Akamai Technologies stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $69.39, for a total transaction of $138,780.00. Following the sale, the executive vice president now owns 20,415 shares in the company, valued at approximately $1,416,596.85. The disclosure for this sale 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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