Bank of Nova Scotia cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,611 shares of the technology infrastructure company’s stock after selling 5,834 shares during the period. Bank of Nova Scotia’s holdings in Akamai Technologies were worth $1,485,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Zions Bancorporation N.A. grew its position in Akamai Technologies by 73.7% during the 3rd quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. Ancora Advisors LLC grew its position in Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Akamai Technologies by 625.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Akamai Technologies during the 4th quarter worth approximately $29,000. Finally, General Partner Inc. bought a new stake in Akamai Technologies during the 4th quarter worth approximately $31,000. 90.41% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
AKAM has been the topic of a number of research analyst reports. Royal Bank of Canada lowered Akamai Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $100.00 to $85.00 in a research report on Wednesday, February 15th. Cowen reduced their price objective on Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. Evercore ISI upped their price objective on Akamai Technologies from $100.00 to $105.00 in a report on Wednesday, May 10th. William Blair started coverage on Akamai Technologies in a report on Wednesday, April 19th. They set an “outperform” rating on the stock. Finally, Robert W. Baird increased their price target on Akamai Technologies from $89.00 to $94.00 in a research note on Friday, May 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average price target of $101.06.
Akamai Technologies Stock Performance
Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The technology infrastructure company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.32 by $0.08. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $912.13 million. Akamai Technologies had a return on equity of 14.63% and a net margin of 12.50%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. On average, research analysts predict that Akamai Technologies, Inc. will post 4.48 EPS for the current year.
Insider Buying and Selling
In other news, CEO F Thomson Leighton bought 285 shares of the stock in a transaction on Friday, May 19th. The stock was purchased at an average price of $87.86 per share, for a total transaction of $25,040.10. Following the acquisition, the chief executive officer now owns 86,517 shares in the company, valued at $7,601,383.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Anthony P. Williams sold 6,300 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $71.23, for a total value of $448,749.00. Following the completion of the transaction, the executive vice president now owns 13,992 shares in the company, valued at approximately $996,650.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO F Thomson Leighton acquired 285 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was bought at an average price of $87.86 per share, with a total value of $25,040.10. Following the acquisition, the chief executive officer now directly owns 86,517 shares in the company, valued at $7,601,383.62. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 9,600 shares of company stock valued at $751,032 and have sold 28,647 shares valued at $2,159,036. 1.80% of the stock is currently owned by company insiders.
About Akamai Technologies
Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.
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