Pacer Advisors Inc. increased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,005 shares of the technology infrastructure company’s stock after acquiring an additional 2,098 shares during the quarter. Pacer Advisors Inc.’s holdings in Akamai Technologies were worth $1,283,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Weil Company Inc. bought a new position in shares of Akamai Technologies in the second quarter valued at approximately $302,000. Quantamental Technologies LLC increased its holdings in Akamai Technologies by 621.2% during the 2nd quarter. Quantamental Technologies LLC now owns 6,736 shares of the technology infrastructure company’s stock worth $540,000 after acquiring an additional 5,802 shares during the period. Redhawk Wealth Advisors Inc. purchased a new stake in Akamai Technologies in the 2nd quarter worth approximately $30,000. LPL Financial LLC lifted its stake in Akamai Technologies by 2.7% in the 2nd quarter. LPL Financial LLC now owns 84,332 shares of the technology infrastructure company’s stock worth $6,759,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Akamai Technologies by 3.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,254,383 shares of the technology infrastructure company’s stock valued at $100,527,000 after purchasing an additional 39,141 shares during the period. 87.38% of the stock is owned by institutional investors.
Shares of NASDAQ AKAM traded down $0.61 during trading hours on Friday, reaching $90.38. 134,971 shares of the stock traded hands, compared to its average volume of 1,496,118. The company has a market capitalization of $14.89 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 1.82 and a beta of 0.62. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.35. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $93.12. The company’s 50-day simple moving average is $87.72 and its two-hundred day simple moving average is $79.38.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.30. The company had revenue of $705.07 million for the quarter, compared to analysts’ expectations of $695.88 million. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. Akamai Technologies’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 3.31 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on AKAM shares. Craig Hallum set a $97.00 price objective on Akamai Technologies and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their price target on Akamai Technologies from $94.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Tuesday, June 25th. Evercore ISI reiterated a “hold” rating and set a $70.00 price target on shares of Akamai Technologies in a research report on Thursday, June 13th. Finally, Nomura lifted their price target on Akamai Technologies from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $87.81.
In related news, EVP Adam Karon sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $85.00, for a total transaction of $297,500.00. Following the transaction, the executive vice president now directly owns 9,418 shares of the company’s stock, valued at approximately $800,530. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 3,247 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total value of $289,242.76. Following the transaction, the chief financial officer now directly owns 8,795 shares in the company, valued at $783,458.60. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
Akamai Technologies 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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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