Vestmark Advisory Solutions Inc. Buys 2,142 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Vestmark Advisory Solutions Inc. grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 31.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,937 shares of the technology infrastructure company’s stock after acquiring an additional 2,142 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Akamai Technologies were worth $817,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Akamai Technologies by 11.3% during the second quarter. Signaturefd LLC now owns 1,130 shares of the technology infrastructure company’s stock valued at $91,000 after purchasing an additional 115 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Akamai Technologies by 1.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 11,206 shares of the technology infrastructure company’s stock valued at $1,024,000 after purchasing an additional 130 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Akamai Technologies by 8.0% during the third quarter. Parallel Advisors LLC now owns 1,760 shares of the technology infrastructure company’s stock valued at $161,000 after purchasing an additional 130 shares in the last quarter. World Asset Management Inc lifted its holdings in shares of Akamai Technologies by 1.2% during the second quarter. World Asset Management Inc now owns 11,701 shares of the technology infrastructure company’s stock valued at $938,000 after purchasing an additional 136 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of Akamai Technologies by 3.0% during the second quarter. Fulton Bank N.A. now owns 4,695 shares of the technology infrastructure company’s stock valued at $377,000 after purchasing an additional 137 shares in the last quarter. 88.34% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies stock traded up $0.88 during mid-day trading on Wednesday, reaching $85.60. 1,023,800 shares of the stock traded hands, compared to its average volume of 1,372,541. The stock has a market capitalization of $13.95 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.05 and a beta of 0.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.74 and a quick ratio of 2.95. Akamai Technologies, Inc. has a 12-month low of $57.18 and a 12-month high of $93.12. The business’s 50-day moving average is $89.10 and its 200-day moving average is $84.34.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Monday, October 28th. The technology infrastructure company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $709.91 million during the quarter, compared to analysts’ expectations of $701.25 million. Akamai Technologies had a return on equity of 16.76% and a net margin of 15.98%. Akamai Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. Equities analysts anticipate that Akamai Technologies, Inc. will post 3.44 EPS for the current fiscal year.

A number of research analysts have recently issued reports on the company. Cowen set a $93.00 price target on Akamai Technologies and gave the company a “hold” rating in a report on Wednesday, July 31st. B. Riley upped their price target on Akamai Technologies from $102.00 to $111.00 and gave the company a “buy” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Akamai Technologies in a report on Monday, October 28th. Oppenheimer upped their price target on Akamai Technologies from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price target on Akamai Technologies from $83.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Akamai Technologies has an average rating of “Hold” and an average target price of $92.19.

In other Akamai Technologies news, CFO Ewout L. Steenbergen sold 1,760 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $251.19, for a total value of $442,094.40. Also, EVP Aaron Ahola sold 3,117 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $90.24, for a total value of $281,278.08. Following the completion of the sale, the executive vice president now owns 4,109 shares of the company’s stock, valued at approximately $370,796.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,877 shares of company stock valued at $1,505,202. Company insiders own 2.40% of the company’s stock.

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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