Royal London Asset Management Ltd. Cuts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Royal London Asset Management Ltd. decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,832 shares of the technology infrastructure company’s stock after selling 1,168 shares during the period. Royal London Asset Management Ltd.’s holdings in Akamai Technologies were worth $5,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Akamai Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 2,150,566 shares of the technology infrastructure company’s stock worth $131,125,000 after acquiring an additional 43,330 shares during the period. Truvestments Capital LLC bought a new stake in Akamai Technologies during the 1st quarter worth approximately $29,000. Raymond James Trust N.A. bought a new position in shares of Akamai Technologies in the 1st quarter worth $300,000. Flagship Harbor Advisors LLC increased its holdings in shares of Akamai Technologies by 117.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,136 shares of the technology infrastructure company’s stock worth $153,000 after buying an additional 1,155 shares during the last quarter. Finally, BTIM Corp. increased its holdings in shares of Akamai Technologies by 3.3% in the 1st quarter. BTIM Corp. now owns 193,772 shares of the technology infrastructure company’s stock worth $13,895,000 after buying an additional 6,275 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

In other news, Director Frederic V. Salerno sold 3,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $77.74, for a total value of $233,220.00. Following the completion of the sale, the director now owns 68,919 shares of the company’s stock, valued at approximately $5,357,763.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 3,247 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total transaction of $289,242.76. Following the completion of the sale, 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 sold a total of 21,247 shares of company stock valued at $1,715,963 in the last ninety days. 2.40% of the stock is owned by corporate insiders.



A number of brokerages have recently commented on AKAM. B. Riley reissued a “buy” rating on shares of Akamai Technologies in a report on Wednesday, July 31st. Credit Suisse Group increased their price target on shares of Akamai Technologies from $75.00 to $81.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Piper Jaffray Companies set a $97.00 price target on shares of Akamai Technologies and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada set a $83.00 price target on shares of Akamai Technologies and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, DA Davidson reissued a “buy” rating and issued a $95.00 price target on shares of Akamai Technologies in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.81.

Shares of Akamai Technologies stock opened at $84.08 on Thursday. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $90.76. The stock has a market cap of $14.72 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.85 and a beta of 0.62. The firm has a fifty day simple moving average of $83.88. The company has a quick ratio of 3.19, a current ratio of 2.95 and a debt-to-equity ratio of 0.35.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.30. Akamai Technologies had a net margin of 15.12% and a return on equity of 16.32%. The company had revenue of $705.07 million during the quarter, compared to analysts’ expectations of $695.88 million. During the same quarter in the prior year, the company earned $0.83 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Akamai Technologies, Inc. will post 3.29 earnings per share 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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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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