Sentry Investment Management LLC lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 50.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,629 shares of the technology infrastructure company’s stock after purchasing an additional 4,564 shares during the quarter. Sentry Investment Management LLC’s holdings in Akamai Technologies were worth $679,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of AKAM. Neuberger Berman Group LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter worth approximately $304,000. OppenheimerFunds Inc. grew its stake in shares of Akamai Technologies by 15.7% during the 1st quarter. OppenheimerFunds Inc. now owns 4,454 shares of the technology infrastructure company’s stock worth $266,000 after purchasing an additional 606 shares during the period. Principal Financial Group Inc. grew its stake in shares of Akamai Technologies by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 276,381 shares of the technology infrastructure company’s stock worth $16,500,000 after purchasing an additional 1,738 shares during the period. Teachers Advisors LLC grew its stake in shares of Akamai Technologies by 30.6% during the 1st quarter. Teachers Advisors LLC now owns 368,457 shares of the technology infrastructure company’s stock worth $21,997,000 after purchasing an additional 86,383 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Akamai Technologies by 5.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,033 shares of the technology infrastructure company’s stock worth $241,000 after purchasing an additional 200 shares during the period. 84.40% of the stock is currently owned by institutional investors and hedge funds.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 51.87 on Friday. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 29.62 and a beta of 0.65. The firm has a 50-day moving average price of $48.77 and a 200-day moving average price of $50.30. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. On average, equities analysts predict that Akamai Technologies, Inc. will post $2.50 earnings per share for the current year.
AKAM has been the topic of a number of analyst reports. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $46.00 price objective (down previously from $52.00) on shares of Akamai Technologies in a research note on Friday, June 30th. Deutsche Bank AG reaffirmed a “buy” rating and set a $70.00 price objective (down previously from $73.00) on shares of Akamai Technologies in a research note on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating and set a $61.00 price objective on shares of Akamai Technologies in a research note on Friday, July 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $57.00 price objective on shares of Akamai Technologies in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.64.
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In related news, CEO F Thomson Leighton purchased 21,554 shares of Akamai Technologies stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $46.91 per share, for a total transaction of $1,011,098.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rick M. Mcconnell sold 7,579 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $51.00, for a total transaction of $386,529.00. The disclosure for this sale can be found here. Insiders bought 46,224 shares of company stock valued at $2,245,074 over the last quarter. Company insiders own 3.20% of the company’s stock.
Akamai Technologies Profile
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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