Akamai Technologies, Inc. (NASDAQ:AKAM) Position Trimmed by Oak Associates Ltd. OH

Oak Associates Ltd. OH cut its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 145,263 shares of the technology infrastructure company’s stock after selling 15,000 shares during the period. Oak Associates Ltd. OH’s holdings in Akamai Technologies were worth $13,085,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AKAM. Envestnet Asset Management Inc. boosted its stake in Akamai Technologies by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 558,291 shares of the technology infrastructure company’s stock valued at $50,291,000 after acquiring an additional 14,353 shares during the period. Dai ichi Life Insurance Company Ltd grew its stake in Akamai Technologies by 4.9% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 13,329 shares of the technology infrastructure company’s stock worth $1,201,000 after buying an additional 627 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Akamai Technologies in the second quarter worth $793,000. Royal London Asset Management Ltd. lifted its stake in Akamai Technologies by 2.1% in the second quarter. Royal London Asset Management Ltd. now owns 60,158 shares of the technology infrastructure company’s stock valued at $5,419,000 after buying an additional 1,244 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC lifted its stake in Akamai Technologies by 4.9% in the second quarter. Clifford Swan Investment Counsel LLC now owns 60,229 shares of the technology infrastructure company’s stock valued at $5,425,000 after buying an additional 2,798 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In related news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $741,655 over the last three months. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 1.3 %

NASDAQ AKAM opened at $98.53 on Friday. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The company has a market capitalization of $14.93 billion, a P/E ratio of 24.51, a PEG ratio of 3.10 and a beta of 0.68. The company’s 50 day simple moving average is $97.60 and its 200 day simple moving average is $98.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. Equities research analysts expect that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AKAM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a report on Thursday, August 15th. Scotiabank lifted their price target on Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. TD Cowen raised their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.