Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,618 shares of the technology infrastructure company’s stock after selling 219 shares during the period. Commonwealth Equity Services LLC’s holdings in Akamai Technologies were worth $604,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Smithfield Trust Co. acquired a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $114,000. State of Tennessee Treasury Department raised its position in shares of Akamai Technologies by 43.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 107,764 shares of the technology infrastructure company’s stock worth $9,847,000 after purchasing an additional 32,551 shares during the last quarter. BB&T Securities LLC raised its position in shares of Akamai Technologies by 12.5% during the 3rd quarter. BB&T Securities LLC now owns 148,731 shares of the technology infrastructure company’s stock worth $13,573,000 after purchasing an additional 16,573 shares during the last quarter. Bradley Foster & Sargent Inc. CT acquired a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $361,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Akamai Technologies by 39.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,253 shares of the technology infrastructure company’s stock worth $205,000 after purchasing an additional 635 shares during the last quarter. Institutional investors own 90.42% of the company’s stock.

In other news, EVP James Gemmell sold 10,065 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $85.80, for a total transaction of $863,577.00. Following the completion of the sale, the executive vice president now directly owns 1,439 shares of the company’s stock, valued at approximately $123,466.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Blumofe sold 9,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $86.87, for a total transaction of $781,830.00. Following the sale, the executive vice president now directly owns 11,874 shares of the company’s stock, valued at $1,031,494.38. The disclosure for this sale can be found here. Insiders sold a total of 23,942 shares of company stock valued at $2,368,779 over the last ninety days. 2.40% of the stock is owned by corporate insiders.

AKAM has been the subject of several research reports. DA Davidson lifted their price objective on Akamai Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. FBN Securities lifted their price objective on Akamai Technologies from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Oppenheimer lifted their price objective on Akamai Technologies from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. B. Riley lifted their price objective on Akamai Technologies from $102.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Morgan Stanley lifted their price objective on Akamai Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $92.19.

AKAM stock opened at $88.41 on Tuesday. The stock has a market capitalization of $13.84 billion, a P/E ratio of 32.03, a PEG ratio of 2.08 and a beta of 0.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.95 and a current ratio of 3.74. Akamai Technologies, Inc. has a one year low of $57.18 and a one year high of $93.12. The company has a 50 day moving average price of $88.78 and a two-hundred day moving average price of $84.59.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.10. The firm had revenue of $709.91 million during the quarter, compared to analysts’ expectations of $701.25 million. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. Akamai Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. Research analysts forecast that Akamai Technologies, Inc. will post 3.44 earnings per share for the current fiscal 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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