Voleon Capital Management LP Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Voleon Capital Management LP acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 59,000 shares of the technology infrastructure company’s stock, valued at approximately $4,728,000.

A number of other institutional investors have also modified their holdings of the business. Squar Milner Financial Services LLC acquired a new stake in shares of Akamai Technologies in the 2nd quarter worth $26,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter worth $30,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter worth $31,000. Motco acquired a new stake in shares of Akamai Technologies in the 2nd quarter worth $34,000. Finally, Destination Wealth Management lifted its stake in shares of Akamai Technologies by 215.8% in the 2nd quarter. Destination Wealth Management now owns 439 shares of the technology infrastructure company’s stock worth $35,000 after acquiring an additional 300 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Shares of NASDAQ AKAM traded down $0.96 during midday trading on Tuesday, hitting $88.65. The company had a trading volume of 71,664 shares, compared to its average volume of 1,640,866. 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, Inc. has a twelve month low of $57.18 and a twelve month high of $93.12. The business has a 50-day simple moving average of $88.73 and a two-hundred day simple moving average of $80.47. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.86 and a beta of 0.62.



Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $705.07 million during the quarter, compared to analysts’ expectations of $695.88 million. During the same quarter last year, the business earned $0.83 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Akamai Technologies, Inc. will post 3.31 EPS for the current year.

In other Akamai Technologies news, EVP Adam Karon sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $85.00, for a total transaction of $297,500.00. Following the completion of the transaction, the executive vice president now directly owns 9,418 shares in the company, valued at approximately $800,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 3,247 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total transaction of $289,242.76. Following the transaction, the chief financial officer now owns 8,795 shares of the company’s stock, valued at $783,458.60. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Several analysts have recently commented on the stock. Evercore ISI restated a “hold” rating and issued a $70.00 target price on shares of Akamai Technologies in a research note on Thursday, June 13th. Nomura raised their target price on shares of Akamai Technologies from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. ValuEngine cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Morgan Stanley raised their target price on shares of Akamai Technologies from $94.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Cowen set a $93.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research note on Wednesday, July 31st. 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 company. Akamai Technologies has a consensus rating of “Hold” and a consensus target price of $87.81.

Akamai Technologies 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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