Levy Harkins & Company INC Has Cut Stake in Akamai Technologies INC (AKAM) by $4.04 Million as Market Value Rose

August 14, 2018 - By Robert Sims

Akamai Technologies, Inc. (NASDAQ:AKAM) LogoInvestors sentiment increased to 0.92 in Q1 2018. Its up 0.10, from 0.82 in 2017Q4. It is positive, as 40 investors sold AKAM shares while 166 reduced holdings. 58 funds opened positions while 132 raised stakes. 141.80 million shares or 0.27% less from 142.18 million shares in 2017Q4 were reported. Fulton Bank & Trust Na has invested 0.02% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM). 5,123 are held by Quantbot Technology Limited Partnership. 208,782 were accumulated by Employees Retirement System Of Ohio. Hexavest invested 0.54% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM). Gargoyle Invest Advisor reported 5,280 shares or 0.15% of all its holdings. Teachers Retirement System Of The State Of Kentucky reported 0.08% in Akamai Technologies, Inc. (NASDAQ:AKAM). State Teachers Retirement System reported 271,210 shares stake. Aurora Inv Counsel accumulated 21,861 shares or 0.78% of the stock. Moreover, Ipswich Inv has 0.67% invested in Akamai Technologies, Inc. (NASDAQ:AKAM). Prentiss Smith And Company reported 274 shares. Veritable LP has invested 0.02% in Akamai Technologies, Inc. (NASDAQ:AKAM). Farmers & Merchants Investments Inc owns 75 shares. Fairpointe Limited Liability holds 3.43% or 2.32 million shares. Moreover, Capital Impact Limited has 0.73% invested in Akamai Technologies, Inc. (NASDAQ:AKAM). Franklin Res reported 0% in Akamai Technologies, Inc. (NASDAQ:AKAM).

Since February 16, 2018, it had 0 insider buys, and 17 insider sales for $13.38 million activity. Gemmell James had sold 8,430 shares worth $564,810. $400,000 worth of stock was sold by Karon Adam on Tuesday, July 24. Another trade for 4,000 shares valued at $283,120 was sold by Blumofe Robert. Shares for $2.98 million were sold by SAGAN PAUL. $880,232 worth of stock was sold by MCCONNELL RICK M on Wednesday, April 4. Shares for $345,768 were sold by Ahola Aaron on Tuesday, July 10.

Levy Harkins & Company Inc decreased its stake in Akamai Technologies Inc. (AKAM) by 29.77% based on its latest 2018Q1 regulatory filing with the SEC. Levy Harkins & Company Inc sold 57,657 shares as the company’s stock rose 11.53% while stock markets declined. The hedge fund held 136,049 shares of the miscellaneous company at the end of 2018Q1, valued at $9.66M, down from 193,706 at the end of the previous reported quarter. Levy Harkins & Company Inc who had been investing in Akamai Technologies Inc. for a number of months, seems to be less bullish one the $12.20B market cap company. The stock decreased 3.56% or $2.66 during the last trading session, reaching $72. About 1.58 million shares traded. Akamai Technologies, Inc. (NASDAQ:AKAM) has risen 59.20% since August 14, 2017 and is uptrending. It has outperformed by 46.63% the S&P500.

Levy Harkins & Company Inc, which manages about $216.28 million and $392.82 million US Long portfolio, upped its stake in Google Inc. (NASDAQ:GOOG) by 99,139 shares to 112,418 shares, valued at $115.99M in 2018Q1, according to the filing.

Analysts await Akamai Technologies, Inc. (NASDAQ:AKAM) to report earnings on October, 23. They expect $0.61 EPS, up 48.78 % or $0.20 from last year’s $0.41 per share. AKAM’s profit will be $103.40 million for 29.51 P/E if the $0.61 EPS becomes a reality. After $0.58 actual EPS reported by Akamai Technologies, Inc. for the previous quarter, Wall Street now forecasts 5.17 % EPS growth.

More notable recent Akamai Technologies, Inc. (NASDAQ:AKAM) news were published by: Seekingalpha.com which released: “Akamai Tech reports Q2 beats, 31% Cloud growth” on July 31, 2018, also Benzinga.com with their article: “10 Biggest Price Target Changes For Monday” published on August 13, 2018, 247Wallst.com published: “Top Analyst Upgrades and Downgrades: Akamai, Dollar Tree, Hasbro, Intel, Mylan, Netflix, Papa John’s and More” on August 13, 2018. More interesting news about Akamai Technologies, Inc. (NASDAQ:AKAM) were released by: Benzinga.com and their article: “Benzinga’s Top Upgrades, Downgrades For August 13, 2018” published on August 13, 2018 as well as Benzinga.com‘s news article titled: “A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street” with publication date: August 13, 2018.

Akamai Technologies, Inc. (NASDAQ:AKAM) Ratings Coverage

Among 12 analysts covering Akamai Technologies (NASDAQ:AKAM), 7 have Buy rating, 0 Sell and 5 Hold. Therefore 58% are positive. Akamai Technologies has $9900 highest and $75 lowest target. $82.91’s average target is 15.15% above currents $72 stock price. Akamai Technologies had 18 analyst reports since March 6, 2018 according to SRatingsIntel. Deutsche Bank maintained Akamai Technologies, Inc. (NASDAQ:AKAM) rating on Tuesday, March 6. Deutsche Bank has “Buy” rating and $85 target. The stock has “Sector Weight” rating by KeyBanc Capital Markets on Thursday, March 15. The stock has “Buy” rating by FBR Capital on Wednesday, June 27. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) earned “Hold” rating by Credit Suisse on Friday, June 22. On Friday, March 9 the stock rating was upgraded by JP Morgan to “Overweight”. Robert W. Baird maintained Akamai Technologies, Inc. (NASDAQ:AKAM) rating on Friday, March 9. Robert W. Baird has “Hold” rating and $76.0 target. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) earned “Buy” rating by Oppenheimer on Tuesday, May 1. The company was downgraded on Monday, August 13 by Credit Suisse. On Tuesday, May 1 the stock rating was maintained by Craig Hallum with “Buy”. The firm has “Outperform” rating given on Thursday, March 8 by Cowen & Co.

Akamai Technologies, Inc. (NASDAQ:AKAM) Ratings Chart

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