Janus Henderson Group PLC decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 66.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 366,943 shares of the technology infrastructure company’s stock after selling 713,785 shares during the quarter. Janus Henderson Group PLC’s holdings in Akamai Technologies were worth $26,313,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc lifted its stake in shares of Akamai Technologies by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock valued at $1,250,409,000 after purchasing an additional 63,759 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Akamai Technologies by 10.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,719,117 shares of the technology infrastructure company’s stock valued at $288,219,000 after purchasing an additional 465,230 shares during the period. Elliott Management Corp lifted its stake in shares of Akamai Technologies by 19.2% in the 4th quarter. Elliott Management Corp now owns 2,383,468 shares of the technology infrastructure company’s stock valued at $145,582,000 after purchasing an additional 383,468 shares during the period. Millennium Management LLC lifted its stake in shares of Akamai Technologies by 220.0% in the 4th quarter. Millennium Management LLC now owns 2,351,173 shares of the technology infrastructure company’s stock valued at $143,610,000 after purchasing an additional 1,616,320 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Akamai Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,150,566 shares of the technology infrastructure company’s stock valued at $131,125,000 after purchasing an additional 43,330 shares during the period. 88.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on AKAM shares. Morgan Stanley raised Akamai Technologies from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $82.00 to $79.00 in a research note on Tuesday, January 15th. Zacks Investment Research downgraded Akamai Technologies from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. BidaskClub raised Akamai Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 19th. B. Riley reissued a “buy” rating and issued a $102.00 price target (down previously from $105.00) on shares of Akamai Technologies in a research note on Wednesday, February 13th. Finally, Credit Suisse Group cut their price target on Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Akamai Technologies presently has an average rating of “Buy” and a consensus target price of $82.47.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, beating the Zacks’ 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 business had revenue of $706.51 million during the quarter, compared to analysts’ expectations of $698.33 million. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 3.21 earnings per share for the current fiscal year.
In other Akamai Technologies news, insider William Wheaton sold 6,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $80.00, for a total transaction of $480,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Monte E. Ford sold 24,721 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $72.41, for a total value of $1,790,047.61. Following the transaction, the director now owns 41,012 shares of the company’s stock, valued at approximately $2,969,678.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,930 shares of company stock valued at $8,185,826. 2.40% of the stock is owned by corporate insiders.
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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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