BT Investment Management Ltd Sells 65,893 Shares of Akamai Technologies, Inc. (AKAM)
BT Investment Management Ltd reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 58.5% during the fourth quarter, HoldingsChannel reports. The firm owned 46,757 shares of the technology infrastructure company’s stock after selling 65,893 shares during the quarter. BT Investment Management Ltd’s holdings in Akamai Technologies were worth $3,041,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of AKAM. Advisory Services Network LLC lifted its holdings in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Akamai Technologies in the 2nd quarter worth $117,000. BB&T Investment Services Inc. bought a new position in shares of Akamai Technologies in the 2nd quarter worth $119,000. Wealth Architects LLC bought a new position in shares of Akamai Technologies in the 4th quarter worth $202,000. Finally, Welch & Forbes LLC bought a new position in shares of Akamai Technologies in the 4th quarter worth $203,000. Institutional investors own 86.52% of the company’s stock.
A number of equities analysts recently issued reports on AKAM shares. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. Morgan Stanley reiterated a “sell” rating and issued a $52.00 target price on shares of Akamai Technologies in a report on Wednesday, December 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $75.00 target price (up from $58.00) on shares of Akamai Technologies in a report on Wednesday, January 10th. Vetr cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $68.08 target price on the stock. in a report on Monday, January 22nd. Finally, BidaskClub upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $68.95.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $64.13 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 2.82. Akamai Technologies, Inc. has a 52 week low of $44.65 and a 52 week high of $69.56. The firm has a market capitalization of $11,130.00, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 2.60 and a beta of 0.70.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The business had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $649.08 million. During the same period last year, the business earned $0.72 EPS. The business’s revenue was up 7.7% on a year-over-year basis. equities research analysts anticipate that Akamai Technologies, Inc. will post 1.85 earnings per share for the current year.
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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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