Palouse Capital Management Inc. Has $1.15 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Palouse Capital Management Inc. raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,729 shares of the technology infrastructure company’s stock after purchasing an additional 1,834 shares during the period. Palouse Capital Management Inc.’s holdings in Akamai Technologies were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in AKAM. Westport Asset Management Inc. grew its stake in shares of Akamai Technologies by 66.7% in the second quarter. Westport Asset Management Inc. now owns 25,000 shares of the technology infrastructure company’s stock valued at $2,252,000 after acquiring an additional 10,000 shares in the last quarter. Elo Mutual Pension Insurance Co grew its position in shares of Akamai Technologies by 0.9% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 13,904 shares of the technology infrastructure company’s stock worth $1,252,000 after purchasing an additional 122 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Akamai Technologies by 10.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,628 shares of the technology infrastructure company’s stock worth $417,000 after purchasing an additional 433 shares during the period. Lmcg Investments LLC raised its position in shares of Akamai Technologies by 0.5% in the second quarter. Lmcg Investments LLC now owns 100,518 shares of the technology infrastructure company’s stock valued at $9,055,000 after buying an additional 460 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after buying an additional 162,700 shares during the period. Institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AKAM shares. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Monday, July 29th. Tigress Financial reiterated a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a report on Wednesday, July 24th. Finally, Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $125.00 in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $116.47.

Akamai Technologies Stock Down 0.5 %

Shares of AKAM opened at $97.41 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 3.10 and a beta of 0.68. The stock has a fifty day moving average of $97.84 and a 200-day moving average of $98.52.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the company’s 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 completion of the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction 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 sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 in the last quarter. 1.80% of the stock is owned by insiders.

About Akamai Technologies

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.