Gallacher Capital Management LLC takes position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Gallacher Capital Management LLC acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,304 shares of the technology infrastructure company’s stock, valued at approximately $208,000.

Other hedge funds have added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Akamai Technologies in the first quarter valued at approximately $31,000. Versant Capital Management Inc raised its stake in Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after acquiring an additional 193 shares during the last quarter. Inçalta Capital LLC purchased a new stake in Akamai Technologies in the second quarter valued at $28,000. Family Firm Inc. bought a new stake in shares of Akamai Technologies in the second quarter valued at $35,000. Finally, Covestor Ltd raised its stake in shares of Akamai Technologies by 224.6% in the first quarter. Covestor Ltd now owns 448 shares of the infrastructure technology company’s stock valued at $48,000 after purchasing an additional 310 shares during the period. Institutional investors own 94.28% of the company’s shares.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $96.54 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.32, and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The firm has a fifty day simple moving average of $96.99 and a 200 day simple moving average of $99.09. The stock has a market cap of $14.70 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 3.27 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM – Get Your Free Report ) last announced its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $977.67 million. In the same quarter last year, the company earned $1.01 EPS. Akamai Technologies’ revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts estimate that Akamai Technologies, Inc. will post 4.41 EPS for the current fiscal year.

Insider Trading at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $617,475 in the last 90 days. Corporate insiders own 1.80% of the company’s shares.

Analyst upgrades and downgrades

A number of equities research analysts recently commented on AKAM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Monday, July 29th. Scotiabank raised their price objective on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Tigress Financial reissued a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Moderate Buy” and an average price target of $116.47, based on data from MarketBeat.

Get the latest analysis on Akamai Technologies

About Akamai Technologies

(Free report)

Akamai Technologies, Inc provides cloud computing, security and content delivery services in the United States and internationally. The company provides cloud solutions to keep infrastructure, websites, applications, APIs and users safe from various cyber-attacks and online threats while enhancing performance.

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