Stevens Capital Management LP purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,975 shares of the technology infrastructure company’s stock, valued at approximately $1,466,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new stake in Akamai Technologies during the 4th quarter valued at $28,000. CFM Wealth Partners LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $38,000. Parkside Financial Bank & Trust lifted its holdings in shares of Akamai Technologies by 234.6% during the third quarter. Parkside Financial Bank & Trust now owns 542 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 380 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new stake in shares of Akamai Technologies during the third quarter worth $58,000. Finally, Allred Capital Management LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $67,000. 89.32% of the stock is owned by institutional investors.
In related news, Director Bernardus Johannes M. Verwaayen sold 25,062 shares of Akamai Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $87.74, for a total value of $2,198,939.88. Following the transaction, the director now directly owns 25,062 shares of the company’s stock, valued at $2,198,939.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by insiders.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 11th. The technology infrastructure company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.10. The firm had revenue of $772.12 million for the quarter, compared to analyst estimates of $749.76 million. Akamai Technologies had a return on equity of 16.76% and a net margin of 15.98%. During the same period last year, the firm posted $1.07 earnings per share. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 3.44 EPS for the current fiscal year.
A number of research analysts recently commented on the company. Morgan Stanley raised their price target on Akamai Technologies from $111.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC lifted their target price on Akamai Technologies from $102.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Thursday. Credit Suisse Group lifted their target price on Akamai Technologies from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, ValuEngine cut Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $100.26.
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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