Akamai Technologies, Inc. (NASDAQ:AKAM) Position Raised by Comerica Bank

Comerica Bank increased its position in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,771 shares of the technology infrastructure company’s stock after buying an additional 264 shares during the quarter. Comerica Bank’s holdings in Akamai Technologies were worth $1,881,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ancora Advisors LLC lifted its holdings in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 127 shares during the last quarter. CX Institutional acquired a new stake in Akamai Technologies during the second quarter valued at approximately $28,000. Larson Financial Group LLC bought a new stake in Akamai Technologies during the second quarter worth approximately $41,000. Salem Investment Counselors Inc. bought a new stake in Akamai Technologies during the second quarter worth approximately $62,000. Finally, Private Trust Co. NA acquired a new position in Akamai Technologies in the second quarter worth approximately $75,000. Institutional investors own 90.41% of the company’s stock.

Akamai Technologies Stock Up 1.8 %

Akamai Technologies stock opened at $88.13 on Friday. The firm has a market cap of $13.86 billion, a PE ratio of 28.25, a P/E/G ratio of 1.66 and a beta of 0.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.25 and a current ratio of 2.25. The firm’s 50 day moving average price is $88.31 and its two-hundred day moving average price is $88.81. Akamai Technologies, Inc. has a twelve month low of $76.28 and a twelve month high of $123.25.

Akamai Technologies (NASDAQ:AKAMGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The technology infrastructure company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The company had revenue of $881.90 million during the quarter, compared to analyst estimates of $875.99 million. During the same period last year, the company posted $1.20 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that Akamai Technologies, Inc. will post 4.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AKAM shares. Tigress Financial dropped their price target on Akamai Technologies from $168.00 to $132.00 in a report on Wednesday, December 7th. DA Davidson cut their price objective on Akamai Technologies to $100.00 in a report on Tuesday, November 15th. Cowen cut their price objective on Akamai Technologies from $164.00 to $137.00 in a report on Wednesday, November 9th. Raymond James cut their price objective on Akamai Technologies from $115.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. Finally, StockNews.com lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $109.86.

Insiders Place Their Bets

In other news, CEO F Thomson Leighton bought 302 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were bought at an average cost of $83.03 per share, with a total value of $25,075.06. Following the transaction, the chief executive officer now directly owns 3,200 shares in the company, valued at approximately $265,696. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $92.92, for a total transaction of $464,600.00. Following the transaction, the chief technology officer now owns 9,835 shares in the company, valued at approximately $913,868.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO F Thomson Leighton purchased 302 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were acquired at an average price of $83.03 per share, for a total transaction of $25,075.06. Following the purchase, the chief executive officer now owns 3,200 shares in the company, valued at $265,696. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,471 shares of company stock valued at $300,553 and have sold 10,363 shares valued at $946,762. Insiders own 1.70% of the company’s stock.

Akamai Technologies Company Profile

(Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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