Quadrature Capital Ltd raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 181.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 73,420 shares of the technology infrastructure company’s stock after buying an additional 47,361 shares during the quarter. Quadrature Capital Ltd’s holdings in Akamai Technologies were worth $4,775,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the business. OppenheimerFunds Inc. grew its stake in shares of Akamai Technologies by 115.4% during the 4th quarter. OppenheimerFunds Inc. now owns 15,337 shares of the technology infrastructure company’s stock valued at $997,000 after purchasing an additional 8,217 shares during the period. Suntrust Banks Inc. grew its stake in shares of Akamai Technologies by 19.6% during the 4th quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock valued at $328,000 after acquiring an additional 829 shares during the period. Clarius Group LLC bought a new position in shares of Akamai Technologies during the 4th quarter valued at approximately $218,000. FDx Advisors Inc. bought a new position in shares of Akamai Technologies during the 4th quarter valued at approximately $277,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of Akamai Technologies during the 4th quarter valued at approximately $290,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
A number of research analysts recently issued reports on AKAM shares. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a research note on Tuesday, November 14th. Morgan Stanley reiterated a “sell” rating and set a $52.00 price objective on shares of Akamai Technologies in a research note on Wednesday, December 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $75.00 price objective (up from $58.00) on shares of Akamai Technologies in a research note on Wednesday, January 10th. BidaskClub upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 30th. Finally, Vetr downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $68.08 price objective for the company. in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Akamai Technologies has a consensus rating of “Buy” and a consensus target price of $69.03.
In other Akamai Technologies news, EVP James Gemmell sold 8,430 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $67.00, for a total value of $564,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO F Thomson Leighton acquired 17,537 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average cost of $57.01 per share, for a total transaction of $999,784.37. The disclosure for this purchase can be found here. Insiders sold a total of 66,799 shares of company stock valued at $3,976,520 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.
Akamai Technologies, Inc. (NASDAQ AKAM) opened at $67.36 on Friday. Akamai Technologies, Inc. has a 52 week low of $44.65 and a 52 week high of $69.56. The company has a quick ratio of 3.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $11,206.30, a P/E ratio of 53.89, a price-to-earnings-growth ratio of 2.37 and a beta of 0.71.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The business had revenue of $663.50 million during the quarter, compared to the consensus estimate of $649.08 million. During the same period in the prior year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. equities analysts anticipate that Akamai Technologies, Inc. will post 2.18 earnings per share for the current fiscal year.
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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 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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