Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 23.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,266 shares of the technology infrastructure company’s stock after selling 6,966 shares during the quarter. Bank of Nova Scotia’s holdings in Akamai Technologies were worth $2,033,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Ancora Advisors LLC raised its position in Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 127 shares in the last quarter. Mount Yale Investment Advisors LLC raised its position in Akamai Technologies by 2.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 6,997 shares of the technology infrastructure company’s stock worth $835,000 after acquiring an additional 134 shares in the last quarter. Phoenix Wealth Advisors raised its position in Akamai Technologies by 6.1% in the second quarter. Phoenix Wealth Advisors now owns 2,479 shares of the technology infrastructure company’s stock worth $226,000 after acquiring an additional 143 shares in the last quarter. Sandy Cove Advisors LLC raised its holdings in Akamai Technologies by 30.0% during the 1st quarter. Sandy Cove Advisors LLC now owns 650 shares of the technology infrastructure company’s stock worth $78,000 after buying an additional 150 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Akamai Technologies by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 15,614 shares of the technology infrastructure company’s stock worth $1,864,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 92.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AKAM. Evercore ISI cut their price objective on Akamai Technologies to $105.00 in a report on Tuesday. Cowen cut their price objective on Akamai Technologies from $164.00 to $137.00 in a report on Wednesday, November 9th. DA Davidson cut their price objective on Akamai Technologies to $100.00 in a report on Tuesday. KeyCorp cut their price objective on Akamai Technologies from $116.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, November 9th. Finally, TheStreet downgraded Akamai Technologies from a “b-” rating to a “c+” rating in a report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies has an average rating of “Hold” and an average price target of $112.93.

Akamai Technologies Trading Down 0.0 %

Shares of NASDAQ AKAM opened at $90.79 on Friday. The stock has a market cap of $14.28 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 1.85 and a beta of 0.71. The business has a 50 day simple moving average of $85.63 and a 200 day simple moving average of $91.72. Akamai Technologies, Inc. has a 52 week low of $76.28 and a 52 week high of $123.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.25 and a current ratio of 2.25.

Akamai Technologies (NASDAQ:AKAMGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The technology infrastructure company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.22 by $0.04. The business had revenue of $881.90 million during the quarter, compared to analysts’ expectations of $875.99 million. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. On average, research analysts predict that Akamai Technologies, Inc. will post 4.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total transaction of $121,185.00. Following the completion of the sale, the executive vice president now owns 31,183 shares of the company’s stock, valued at $2,519,274.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Akamai Technologies news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $92.92, for a total transaction of $464,600.00. Following the completion of the sale, the chief technology officer now owns 9,835 shares of the company’s stock, valued at $913,868.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $80.79, for a total value of $121,185.00. Following the sale, the executive vice president now directly owns 31,183 shares of the company’s stock, valued at approximately $2,519,274.57. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

About Akamai Technologies

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Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

See Also

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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