Korea Investment CORP reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,255 shares of the technology infrastructure company’s stock after selling 26,600 shares during the period. Korea Investment CORP’s holdings in Akamai Technologies were worth $4,056,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Akamai Technologies by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after buying an additional 424,152 shares during the period. First Trust Advisors LP increased its stake in shares of Akamai Technologies by 2.3% in the third quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock worth $241,610,000 after buying an additional 109,826 shares during the last quarter. Fairpointe Capital LLC increased its stake in shares of Akamai Technologies by 44.0% in the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after buying an additional 981,069 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of Akamai Technologies by 13.2% in the second quarter. King Luther Capital Management Corp now owns 2,320,833 shares of the technology infrastructure company’s stock worth $115,601,000 after buying an additional 269,793 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of Akamai Technologies by 83.4% in the second quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock worth $95,080,000 after buying an additional 867,795 shares during the last quarter. 84.30% of the stock is currently owned by institutional investors.
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In related news, SVP Aaron Ahola sold 2,893 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the sale, the senior vice president now directly owns 8,046 shares in the company, valued at approximately $421,932.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rick M. Mcconnell sold 7,579 shares of Akamai Technologies stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total value of $386,529.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,438 shares of company stock valued at $1,463,695. Corporate insiders own 3.20% of the company’s stock.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $53.64 on Tuesday. The company has a market capitalization of $9,178.17, a PE ratio of 28.26, a PEG ratio of 2.16 and a beta of 0.66. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies, Inc. has a 1 year low of $44.65 and a 1 year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. During the same quarter last year, the firm earned $0.68 EPS. Akamai Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. research analysts forecast that Akamai Technologies, Inc. will post 1.88 EPS for the current year.
A number of equities analysts have commented on the stock. Wells Fargo & Company set a $57.00 price objective on shares of Akamai Technologies and gave the stock a “hold” rating in a report on Tuesday, October 10th. B. Riley reissued a “buy” rating and set a $66.00 price target on shares of Akamai Technologies in a report on Thursday, October 12th. Credit Suisse Group boosted their price target on shares of Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a report on Wednesday, July 26th. Finally, Nomura upped their price objective on shares of Akamai Technologies from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. Akamai Technologies currently has an average rating of “Hold” and a consensus price target of $60.73.
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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