Norris Perne & French LLP MI Has $11.49 Million Holdings in Akamai Technologies, Inc. (AKAM)
Norris Perne & French LLP MI lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 176,667 shares of the technology infrastructure company’s stock after selling 3,287 shares during the quarter. Akamai Technologies accounts for about 1.7% of Norris Perne & French LLP MI’s portfolio, making the stock its 18th largest position. Norris Perne & French LLP MI’s holdings in Akamai Technologies were worth $11,490,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AKAM. Alyeska Investment Group L.P. acquired a new stake in Akamai Technologies in the 3rd quarter valued at about $65,270,000. Janus Henderson Group PLC raised its position in Akamai Technologies by 5,158.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock valued at $59,877,000 after purchasing an additional 1,179,251 shares in the last quarter. Fairpointe Capital LLC raised its position in Akamai Technologies by 44.0% in the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock valued at $160,001,000 after purchasing an additional 981,069 shares in the last quarter. ETF Managers Group LLC acquired a new stake in Akamai Technologies in the 2nd quarter valued at about $45,156,000. Finally, Koch Industries Inc. raised its position in shares of Akamai Technologies by 5,079.3% during the 2nd quarter. Koch Industries Inc. now owns 661,139 shares of the technology infrastructure company’s stock worth $648,000 after acquiring an additional 648,374 shares in the last quarter. 86.47% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on AKAM shares. Wells Fargo & Co set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. B. Riley raised their target price on Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. DA Davidson set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research report on Thursday, October 12th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Credit Suisse Group raised Akamai Technologies from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.84.
Akamai Technologies, Inc. (NASDAQ:AKAM) traded up $0.02 during trading on Tuesday, hitting $65.65. The company had a trading volume of 1,330,300 shares, compared to its average volume of 1,928,714. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.34. The stock has a market capitalization of $11,200.00, a P/E ratio of 39.31, a PEG ratio of 2.65 and a beta of 0.68.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. research analysts expect that Akamai Technologies, Inc. will post 1.89 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.dailypolitical.com/2018/01/23/norris-perne-french-llp-mi-has-11-49-million-holdings-in-akamai-technologies-inc-akam.html.
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.
Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM).
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.