Akamai Technologies Inc. (AKAM) Shares Sold by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. decreased its stake in Akamai Technologies Inc. (NASDAQ:AKAM) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,302 shares of the technology infrastructure company’s stock after selling 4,198 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Akamai Technologies were worth $7,753,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in shares of Akamai Technologies by 108.5% in the third quarter. BNP Paribas Arbitrage SA now owns 125,445 shares of the technology infrastructure company’s stock valued at $6,647,000 after buying an additional 65,276 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Akamai Technologies during the second quarter valued at approximately $397,000. Kentucky Retirement Systems acquired a new position in shares of Akamai Technologies during the second quarter valued at approximately $835,000. Mason Street Advisors LLC acquired a new position in shares of Akamai Technologies during the second quarter valued at approximately $1,323,000. Finally, Gagnon Securities LLC increased its position in shares of Akamai Technologies by 0.5% in the second quarter. Gagnon Securities LLC now owns 18,727 shares of the technology infrastructure company’s stock valued at $1,047,000 after buying an additional 100 shares during the last quarter. 90.41% of the stock is owned by institutional investors and hedge funds.
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded up 2.37% during midday trading on Tuesday, hitting $67.74. The stock had a trading volume of 1,252,429 shares. The stock has a market cap of $11.74 billion, a PE ratio of 38.47 and a beta of 0.94. The stock’s 50-day moving average is $63.16 and its 200-day moving average is $55.98. Akamai Technologies Inc. has a 12 month low of $39.43 and a 12 month high of $71.04.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, October 25th. The technology infrastructure company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.07. Akamai Technologies had a return on equity of 11.61% and a net margin of 13.59%. The business had revenue of $584.10 million for the quarter, compared to the consensus estimate of $571.92 million. During the same period in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Akamai Technologies Inc. will post $2.66 EPS for the current year.
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Several research analysts have commented on AKAM shares. MKM Partners reissued a “buy” rating and set a $65.00 target price on shares of Akamai Technologies in a research note on Sunday, October 23rd. B. Riley reissued a “buy” rating and set a $62.00 target price on shares of Akamai Technologies in a research note on Monday, August 1st. Mizuho reissued a “buy” rating and set a $65.00 target price on shares of Akamai Technologies in a research note on Monday, October 3rd. Piper Jaffray Cos. reissued a “buy” rating and set a $64.00 target price on shares of Akamai Technologies in a research note on Tuesday, August 9th. Finally, Deutsche Bank AG upped their price objective on Akamai Technologies from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 26th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $62.97.
In related news, CEO F Thomson Leighton bought 15,245 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were acquired at an average cost of $65.58 per share, with a total value of $999,767.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Sagan sold 23,255 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $51.33, for a total value of $1,193,679.15. Following the completion of the sale, the director now directly owns 65,077 shares in the company, valued at $3,340,402.41. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.
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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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