Gateway Investment Advisers LLC Has $2.29 Million Position in Akamai Technologies, Inc. (AKAM)
Gateway Investment Advisers LLC reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 45,931 shares of the technology infrastructure company’s stock after selling 388 shares during the period. Gateway Investment Advisers LLC’s holdings in Akamai Technologies were worth $2,288,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of AKAM. AQR Capital Management LLC boosted its stake in Akamai Technologies by 49.0% in the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock valued at $151,931,000 after buying an additional 836,384 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock valued at $203,324,000 after buying an additional 780,019 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock valued at $368,794,000 after buying an additional 717,811 shares in the last quarter. FIL Ltd boosted its stake in Akamai Technologies by 107.0% in the first quarter. FIL Ltd now owns 1,137,061 shares of the technology infrastructure company’s stock valued at $67,883,000 after buying an additional 587,754 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Akamai Technologies during the first quarter valued at approximately $34,751,000. 87.16% of the stock is owned by institutional investors.
Shares of Akamai Technologies, Inc. (AKAM) opened at 51.77 on Tuesday. The stock has a market capitalization of $8.95 billion, a P/E ratio of 28.29 and a beta of 0.67. Akamai Technologies, Inc. has a 12 month low of $46.81 and a 12 month high of $71.64. The company’s 50 day moving average price is $48.87 and its 200-day moving average price is $60.06.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $609.24 million for the quarter, compared to analysts’ expectations of $604.94 million. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. Equities analysts predict that Akamai Technologies, Inc. will post $2.55 earnings per share for the current year.
Several research firms recently commented on AKAM. B. Riley reaffirmed a “buy” rating and set a $66.00 target price on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $70.00 target price (down previously from $73.00) on shares of Akamai Technologies in a research note on Monday. MKM Partners reaffirmed a “buy” rating and set a $79.00 target price on shares of Akamai Technologies in a research note on Monday, April 3rd. Instinet began coverage on Akamai Technologies in a research note on Thursday, May 25th. They set a “neutral” rating and a $47.62 target price for the company. Finally, JMP Securities reaffirmed an “outperform” rating and set a $75.00 target price (down previously from $77.00) on shares of Akamai Technologies in a research note on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $64.74.
In related news, Director Paul Sagan sold 17,889 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, the director now directly owns 64,147 shares of the company’s stock, valued at approximately $3,177,200.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO F Thomson Leighton acquired 21,196 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was acquired at an average cost of $47.17 per share, for a total transaction of $999,815.32. Following the completion of the transaction, the chief executive officer now directly owns 227,057 shares in the company, valued at approximately $10,710,278.69. The disclosure for this purchase can be found here. Insiders purchased a total of 61,410 shares of company stock worth $2,999,444 over the last ninety days. 3.20% of the stock is currently owned by 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 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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