Grantham Mayo Van Otterloo & Co. LLC lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 63.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,100 shares of the technology infrastructure company’s stock after selling 45,300 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Akamai Technologies were worth $2,730,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Akamai Technologies by 294.1% during the 3rd quarter. Huntington National Bank now owns 268 shares of the technology infrastructure company’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of Akamai Technologies by 896.3% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 269 shares of the technology infrastructure company’s stock worth $31,000 after buying an additional 242 shares during the period. JJJ Advisors Inc. lifted its position in shares of Akamai Technologies by 35.0% during the 3rd quarter. JJJ Advisors Inc. now owns 567 shares of the technology infrastructure company’s stock worth $59,000 after buying an additional 147 shares during the period. Berman Capital Advisors LLC lifted its position in shares of Akamai Technologies by 35.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 617 shares of the technology infrastructure company’s stock worth $71,000 after buying an additional 160 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its position in shares of Akamai Technologies by 94.8% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 680 shares of the technology infrastructure company’s stock worth $71,000 after buying an additional 331 shares during the period. 88.60% of the stock is currently owned by hedge funds and other institutional investors.
In other Akamai Technologies news, EVP Anthony P. Williams sold 925 shares of the business’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $111.23, for a total value of $102,887.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 1,500 shares of the business’s stock in a transaction dated Friday, January 14th. The shares were sold at an average price of $112.52, for a total value of $168,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,325 shares of company stock valued at $1,894,557. 2.40% of the stock is owned by insiders.
AKAM has been the subject of several analyst reports. Morgan Stanley raised their target price on Akamai Technologies from $119.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Wednesday, November 3rd. Royal Bank of Canada began coverage on Akamai Technologies in a research report on Thursday, October 14th. They issued an “outperform” rating and a $140.00 price objective for the company. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $133.00 to $127.00 in a research report on Wednesday, January 5th. Finally, Oppenheimer downgraded Akamai Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, November 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $129.00.
Shares of Akamai Technologies stock opened at $112.61 on Monday. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.43. Akamai Technologies, Inc. has a 12 month low of $92.64 and a 12 month high of $124.91. The business has a fifty day simple moving average of $113.52 and a 200 day simple moving average of $112.15. The stock has a market cap of $18.30 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.93 and a beta of 0.54.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, November 2nd. The technology infrastructure company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. Akamai Technologies had a return on equity of 16.98% and a net margin of 17.77%. The business had revenue of $860.33 million during the quarter, compared to analysts’ expectations of $852.50 million. During the same period in the previous year, the firm earned $1.11 earnings per share. Analysts expect that Akamai Technologies, Inc. will post 4.57 EPS for the current fiscal year.
Akamai Technologies announced that its board has initiated a stock repurchase program on Tuesday, November 2nd that authorizes the company to buyback $1.80 billion in outstanding shares. This buyback authorization authorizes the technology infrastructure company to buy up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Akamai Technologies Company Profile
Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.
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