Akamai Technologies, Inc. (AKAM) Shares Sold by Chicago Equity Partners LLC

Chicago Equity Partners LLC lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,415 shares of the technology infrastructure company’s stock after selling 635 shares during the period. Chicago Equity Partners LLC’s holdings in Akamai Technologies were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc lifted its holdings in shares of Akamai Technologies by 0.4% during the third quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock worth $1,250,409,000 after purchasing an additional 63,759 shares during the period. Clearbridge Investments LLC raised its stake in Akamai Technologies by 1.0% during the third quarter. Clearbridge Investments LLC now owns 8,773,583 shares of the technology infrastructure company’s stock worth $641,788,000 after buying an additional 90,270 shares during the last quarter. First Trust Advisors LP raised its stake in Akamai Technologies by 18.1% during the third quarter. First Trust Advisors LP now owns 4,554,723 shares of the technology infrastructure company’s stock worth $333,178,000 after buying an additional 699,457 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Akamai Technologies by 2,426.2% during the third quarter. Canada Pension Plan Investment Board now owns 4,253,887 shares of the technology infrastructure company’s stock worth $311,172,000 after buying an additional 4,085,498 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in Akamai Technologies by 1.1% during the third quarter. King Luther Capital Management Corp now owns 2,326,575 shares of the technology infrastructure company’s stock worth $170,189,000 after buying an additional 25,210 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

AKAM opened at $68.82 on Friday. Akamai Technologies, Inc. has a 1-year low of $57.18 and a 1-year high of $83.08. The company has a quick ratio of 2.03, a current ratio of 2.09 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.52 and a beta of 0.69.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Akamai Technologies had a net margin of 10.99% and a return on equity of 13.81%. The firm had revenue of $713.36 million during the quarter, compared to the consensus estimate of $703.74 million. During the same period in the previous year, the firm posted $0.69 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Akamai Technologies, Inc. will post 3.13 earnings per share for the current year.

Akamai Technologies announced that its board has approved a stock repurchase program on Monday, October 29th that allows the company to buyback $1.10 billion in shares. This buyback authorization allows the technology infrastructure company to repurchase up to 10.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts recently weighed in on AKAM shares. Cowen downgraded shares of Akamai Technologies from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $86.00 to $73.00 in a research note on Wednesday, January 2nd. Morgan Stanley raised shares of Akamai Technologies from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $82.00 to $79.00 in a research note on Tuesday, January 15th. Piper Jaffray Companies set a $94.00 target price on shares of Akamai Technologies and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Deutsche Bank lowered their target price on shares of Akamai Technologies from $73.00 to $66.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Finally, BidaskClub raised shares of Akamai Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 19th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $81.63.

In other news, EVP James Gemmell sold 9,579 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $70.16, for a total transaction of $672,062.64. Following the completion of the sale, the executive vice president now directly owns 11,504 shares of the company’s stock, valued at $807,120.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Wheaton sold 6,000 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $71.22, for a total transaction of $427,320.00. Following the sale, the insider now directly owns 27,848 shares of the company’s stock, valued at $1,983,334.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,858 shares of company stock valued at $2,024,101. Insiders own 3.20% of the company’s stock.

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Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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