Commerce Bank reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.1% during the first quarter, Holdings Channel reports. The firm owned 6,697 shares of the technology infrastructure company’s stock after selling 6 shares during the period. Commerce Bank’s holdings in Akamai Technologies were worth $400,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Advantage Investment Management LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $105,000. Advisory Services Network LLC bought a new stake in shares of Akamai Technologies during the first quarter worth about $111,000. Massmutual Trust Co. FSB ADV bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $134,000. Acrospire Investment Management LLC raised its stake in shares of Akamai Technologies by 16.7% in the third quarter. Acrospire Investment Management LLC now owns 2,100 shares of the technology infrastructure company’s stock worth $111,000 after buying an additional 300 shares during the period. Finally, Parallel Advisors LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $140,000. Institutional investors and hedge funds own 91.07% of the company’s stock.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%. The company had revenue of $609.24 million during the quarter, compared to the consensus estimate of $604.94 million.
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A number of brokerages have recently issued reports on AKAM. B. Riley restated a “buy” rating and issued a $66.00 target price on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Robert W. Baird lowered shares of Akamai Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $60.00 to $55.00 in a research note on Monday. DA Davidson lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research note on Wednesday, May 3rd. SunTrust Banks, Inc. lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and increased their price objective for the stock from $54.00 to $82.00 in a research note on Wednesday, May 3rd. Finally, JMP Securities reiterated an “outperform” rating and set a $75.00 price objective (down previously from $77.00) on shares of Akamai Technologies in a research note on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $66.85.
In other Akamai Technologies news, CFO James M. Benson sold 33,243 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $65.00, for a total value of $2,160,795.00. Following the completion of the transaction, the chief financial officer now directly owns 49,614 shares of the company’s stock, valued at $3,224,910. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul Sagan sold 18,666 shares of the business’s stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $58.75, for a total transaction of $1,096,627.50. Following the completion of the transaction, the director now directly owns 60,488 shares of the company’s stock, valued at $3,553,670. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,999 shares of company stock valued at $7,813,255. Insiders own 2.70% of the company’s stock.
Akamai Technologies Company Profile
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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