Akamai Technologies, Inc. (AKAM) Stake Lowered by First Mercantile Trust Co.

First Mercantile Trust Co. lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,256 shares of the technology infrastructure company’s stock after selling 632 shares during the period. First Mercantile Trust Co.’s holdings in Akamai Technologies were worth $377,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Burney Co. lifted its stake in shares of Akamai Technologies by 0.4% in the 4th quarter. Burney Co. now owns 36,601 shares of the technology infrastructure company’s stock worth $2,236,000 after acquiring an additional 149 shares during the period. CAPROCK Group Inc. increased its holdings in shares of Akamai Technologies by 3.2% in the 1st quarter. CAPROCK Group Inc. now owns 4,864 shares of the technology infrastructure company’s stock valued at $349,000 after purchasing an additional 151 shares in the last quarter. Montag & Caldwell LLC increased its holdings in shares of Akamai Technologies by 4.2% in the 1st quarter. Montag & Caldwell LLC now owns 4,545 shares of the technology infrastructure company’s stock valued at $326,000 after purchasing an additional 183 shares in the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of Akamai Technologies by 1.5% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 13,143 shares of the technology infrastructure company’s stock valued at $803,000 after purchasing an additional 190 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Akamai Technologies by 12.3% in the 4th quarter. Belpointe Asset Management LLC now owns 1,730 shares of the technology infrastructure company’s stock valued at $106,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 88.56% of the company’s stock.

NASDAQ:AKAM opened at $76.62 on Thursday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.27. Akamai Technologies, Inc. has a twelve month low of $57.18 and a twelve month high of $86.19. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.58 and a beta of 0.60.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The firm had revenue of $706.51 million during the quarter, compared to the consensus estimate of $698.33 million. During the same period last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts forecast that Akamai Technologies, Inc. will post 3.21 EPS for the current year.

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 5,520 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $72.40, for a total transaction of $399,648.00. Following the completion of the transaction, the chief financial officer now directly owns 15,134 shares in the company, valued at approximately $1,095,701.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $80.95, for a total transaction of $404,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 101,194 shares of company stock valued at $7,362,428 over the last 90 days. 2.40% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on AKAM. ValuEngine downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded shares of Akamai Technologies from a “buy” rating to a “sell” rating in a report on Tuesday, April 16th. BidaskClub downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 7th. Piper Jaffray Companies increased their price target on shares of Akamai Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Akamai Technologies in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Akamai Technologies has an average rating of “Buy” and an average price target of $82.47.

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Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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

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