Horan Capital Advisors LLC. Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Horan Capital Advisors LLC. purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 800 shares of the technology infrastructure company’s stock, valued at approximately $73,000.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. Squar Milner Financial Services LLC acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at approximately $26,000. HM Payson & Co. acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at approximately $29,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at approximately $30,000. North Star Investment Management Corp. acquired a new stake in shares of Akamai Technologies in the 3rd quarter valued at approximately $30,000. Finally, Mcmillion Capital Management Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at approximately $31,000. 87.44% of the stock is owned by institutional investors and hedge funds.

NASDAQ AKAM traded down $2.46 during mid-day trading on Tuesday, hitting $89.43. The stock had a trading volume of 88,660 shares, compared to its average volume of 1,187,399. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $93.12. The company has a market cap of $15.10 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 1.91 and a beta of 0.62. The company has a 50 day simple moving average of $90.23 and a 200 day simple moving average of $83.08. 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 (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.30. The firm had revenue of $705.07 million during the quarter, compared to the consensus estimate of $695.88 million. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. Akamai Technologies’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 3.31 earnings per share for the current fiscal year.

Several analysts have recently commented on the company. BidaskClub cut Akamai Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Tigress Financial reissued a “buy” rating on shares of Akamai Technologies in a report on Monday, September 23rd. Zacks Investment Research raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Tuesday, June 25th. Royal Bank of Canada set a $83.00 price objective on Akamai Technologies and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Guggenheim downgraded Akamai Technologies from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Akamai Technologies presently has an average rating of “Hold” and an average target price of $87.81.

In other Akamai Technologies news, EVP Aaron Ahola sold 3,117 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $90.24, for a total transaction of $281,278.08. Following the completion of the transaction, the executive vice president now owns 4,109 shares of the company’s stock, valued at $370,796.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 3,247 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total value of $289,242.76. Following the transaction, the chief financial officer now directly owns 8,795 shares of the company’s stock, valued at approximately $783,458.60. The disclosure for this sale can be found here. Insiders have sold 9,864 shares of company stock valued at $868,021 in the last three months. 2.40% of the stock is currently owned by company insiders.

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

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