United Capital Financial Advisers LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,319 shares of the technology infrastructure company’s stock after selling 4,470 shares during the period. United Capital Financial Advisers LLC’s holdings in Akamai Technologies were worth $4,754,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AKAM. Squar Milner Financial Services LLC purchased a new stake in Akamai Technologies in the second quarter valued at $26,000. Redhawk Wealth Advisors Inc. purchased a new stake in Akamai Technologies in the second quarter valued at $30,000. Mcmillion Capital Management Inc. purchased a new stake in Akamai Technologies in the second quarter valued at $31,000. Motco purchased a new stake in Akamai Technologies in the second quarter valued at $34,000. Finally, Destination Wealth Management raised its position in Akamai Technologies by 215.8% in the second quarter. Destination Wealth Management now owns 439 shares of the technology infrastructure company’s stock valued at $35,000 after purchasing an additional 300 shares during the period. 87.30% of the stock is currently owned by institutional investors.
A number of research firms have commented on AKAM. B. Riley set a $102.00 target price on Akamai Technologies and gave the company a “buy” rating in a research report on Monday, September 9th. Evercore ISI restated a “hold” rating and issued a $70.00 target price on shares of Akamai Technologies in a research report on Thursday, June 13th. Credit Suisse Group lifted their target price on Akamai Technologies from $75.00 to $81.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Piper Jaffray Companies set a $97.00 target price on Akamai Technologies and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, BidaskClub downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Akamai Technologies has an average rating of “Buy” and an average target price of $87.81.
NASDAQ AKAM traded up $1.91 during trading hours on Tuesday, hitting $91.34. 69,686 shares of the company were exchanged, compared to its average volume of 1,439,828. The company has a 50 day moving average of $88.28 and a two-hundred day moving average of $79.79. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.35. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $93.12. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 1.86 and a beta of 0.62.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.30. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The company had revenue of $705.07 million for the quarter, compared to the consensus estimate of $695.88 million. During the same quarter in the prior year, the business earned $0.83 EPS. Akamai Technologies’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Akamai Technologies, Inc. will post 3.31 EPS for the current year.
About Akamai Technologies
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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