Gotham Asset Management LLC Decreases Stake in Akamai Technologies, Inc. (AKAM)

Gotham Asset Management LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.3% during the first quarter, Holdings Channel reports. The firm owned 284,550 shares of the technology infrastructure company’s stock after selling 32,654 shares during the period. Gotham Asset Management LLC’s holdings in Akamai Technologies were worth $16,988,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. DnB Asset Management AS increased its stake in Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock valued at $776,000 after buying an additional 1,600 shares during the last quarter. Federated Investors Inc. PA increased its stake in Akamai Technologies by 85.5% in the fourth quarter. Federated Investors Inc. PA now owns 7,325 shares of the technology infrastructure company’s stock valued at $488,000 after buying an additional 3,377 shares during the last quarter. Janus Capital Management LLC increased its stake in Akamai Technologies by 207.6% in the fourth quarter. Janus Capital Management LLC now owns 84,560 shares of the technology infrastructure company’s stock valued at $5,638,000 after buying an additional 57,072 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Akamai Technologies by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 884,726 shares of the technology infrastructure company’s stock valued at $58,995,000 after buying an additional 66,088 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock valued at $7,561,000 after buying an additional 58,293 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

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

Akamai Technologies, Inc. (NASDAQ AKAM) traded up 2.60% on Friday, reaching $51.32. 1,485,105 shares of the company’s stock were exchanged. The company has a market cap of $8.87 billion, a PE ratio of 28.04 and a beta of 0.71. The firm’s 50 day moving average price is $49.39 and its 200 day moving average price is $60.75. Akamai Technologies, Inc. has a 52-week low of $46.81 and a 52-week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Akamai Technologies had a net margin of 13.53% and a return on equity of 11.31%. The firm had revenue of $609.24 million during the quarter, compared to analyst estimates of $604.94 million. On average, analysts expect that Akamai Technologies, Inc. will post $2.56 earnings per share for the current year.

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Several equities research analysts have recently commented on the stock. Drexel Hamilton assumed coverage on shares of Akamai Technologies in a research report on Tuesday, March 21st. They set a “buy” rating and a $90.00 target price for the company. Zacks Investment Research downgraded shares of Akamai Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 14th. B. Riley reissued a “buy” rating and set a $75.00 target price on shares of Akamai Technologies in a research report on Thursday, March 16th. Wells Fargo & Company downgraded shares of Akamai Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $58.00 target price (down from $62.00) on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.21.

In related news, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, the director now owns 64,147 shares of the company’s stock, valued at $3,177,200.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO F Thomson Leighton acquired 21,196 shares of the company’s 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 acquisition, the chief executive officer now owns 227,057 shares of the company’s stock, valued at approximately $10,710,278.69. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

Akamai Technologies Company Profile

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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