Akamai Technologies, Inc. (NASDAQ:AKAM) Stake Boosted by Amalgamated Bank

Amalgamated Bank grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 0.5% in the third quarter, Holdings Channel.com reports. The fund owned 40,635 shares of the technology infrastructure company’s stock after buying an additional 193 shares during the quarter. Amalgamated Bank’s holdings in Akamai Technologies were worth $4,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AKAM. Vanguard Group Inc. raised its stake in Akamai Technologies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after purchasing an additional 254,437 shares during the period. Geode Capital Management LLC raised its stake in Akamai Technologies by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,582,467 shares of the technology infrastructure company’s stock valued at $321,324,000 after purchasing an additional 32,547 shares during the period. Legal & General Group Plc raised its stake in Akamai Technologies by 5.7% during the 4th quarter. Legal & General Group Plc now owns 2,723,940 shares of the technology infrastructure company’s stock valued at $229,628,000 after purchasing an additional 147,339 shares during the period. Mackenzie Financial Corp raised its stake in Akamai Technologies by 3.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,217,918 shares of the technology infrastructure company’s stock valued at $186,970,000 after purchasing an additional 64,041 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Akamai Technologies by 59.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock valued at $164,052,000 after purchasing an additional 785,055 shares during the period. Institutional investors and hedge funds own 91.40% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $111.47, for a total value of $222,940.00. Following the completion of the sale, the chief technology officer now owns 15,609 shares in the company, valued at $1,739,935.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Robert Blumofe sold 2,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $111.47, for a total value of $222,940.00. Following the completion of the sale, the chief technology officer now owns 15,609 shares in the company, valued at $1,739,935.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders sold 21,136 shares of company stock worth $2,426,164 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 1.0 %

AKAM stock opened at $126.78 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 2.30. Akamai Technologies, Inc. has a 52-week low of $70.65 and a 52-week high of $127.33. The company has a 50-day moving average of $119.32 and a two-hundred day moving average of $109.95. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 3.13 and a beta of 0.76.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The technology infrastructure company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.17). Akamai Technologies had a net margin of 13.76% and a return on equity of 14.54%. The firm had revenue of $965.48 million for the quarter, compared to the consensus estimate of $944.57 million. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AKAM shares. JPMorgan Chase & Co. boosted their target price on shares of Akamai Technologies from $74.00 to $78.00 and gave the company an “underweight” rating in a research note on Wednesday, November 8th. Morgan Stanley upped their price target on shares of Akamai Technologies from $102.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 8th. Raymond James upped their price target on shares of Akamai Technologies from $115.00 to $122.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Citigroup upped their price target on shares of Akamai Technologies from $105.00 to $112.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Finally, Susquehanna started coverage on shares of Akamai Technologies in a research note on Friday, December 15th. They issued a “positive” rating and a $150.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.11.

View Our Latest Stock Analysis on Akamai Technologies

Akamai Technologies Profile

(Free Report)

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software 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.

See Also

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

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