Advisory Services Network LLC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 332.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,234 shares of the technology infrastructure company’s stock after buying an additional 7,867 shares during the period. Advisory Services Network LLC’s holdings in Akamai Technologies were worth $734,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its position in shares of Akamai Technologies by 0.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 42,139 shares of the technology infrastructure company’s stock valued at $3,022,000 after purchasing an additional 377 shares during the last quarter. Gideon Capital Advisors Inc. grew its position in shares of Akamai Technologies by 173.3% in the fourth quarter. Gideon Capital Advisors Inc. now owns 25,108 shares of the technology infrastructure company’s stock valued at $1,534,000 after purchasing an additional 15,921 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Akamai Technologies by 12.3% in the fourth quarter. Belpointe Asset Management LLC now owns 1,730 shares of the technology infrastructure company’s stock valued at $106,000 after purchasing an additional 190 shares during the last quarter. Vanguard Group Inc grew its position in shares of Akamai Technologies by 0.4% in the third 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 last quarter. Finally, Wakefield Asset Management LLLP grew its position in shares of Akamai Technologies by 9.7% in the first quarter. Wakefield Asset Management LLLP now owns 33,902 shares of the technology infrastructure company’s stock valued at $2,431,000 after purchasing an additional 3,007 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.
Several analysts have recently commented on the stock. DA Davidson lowered their price target on shares of Broadcom to $300.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. KeyCorp reissued a “hold” rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. BidaskClub raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th. Craig Hallum raised their target price on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI reissued a “hold” rating and issued a $70.00 target price on shares of Akamai Technologies in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $82.93.
Akamai Technologies stock traded up $0.17 during midday trading on Friday, reaching $82.46. 785,742 shares of the stock traded hands, compared to its average volume of 1,013,226. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $78.98. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.74 and a beta of 0.63. Akamai Technologies, Inc. has a fifty-two week low of $57.18 and a fifty-two week high of $86.19.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The firm had revenue of $706.51 million during the quarter, compared to analyst estimates of $698.33 million. During the same period in the previous year, the business posted $0.79 EPS. Akamai Technologies’s revenue was up 5.7% on a year-over-year basis. On average, research analysts expect that Akamai Technologies, Inc. will post 3.23 EPS for the current year.
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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