Levy Harkins Co Inc Lowers stake in Akamai Technologies (AKAM)

Akamai Technologies (AKAM) : Levy Harkins Co Inc reduced its stake in Akamai Technologies by 16.49% during the most recent quarter end. The investment management company now holds a total of 145,594 shares of Akamai Technologies which is valued at $7.9 Million after selling 28,740 shares in Akamai Technologies , the firm said in a disclosure report filed with the SEC on May 26, 2016.Akamai Technologies makes up approximately 3.35% of Levy Harkins Co Inc’s portfolio.

Other Hedge Funds, Including , Euclid Advisors reduced its stake in AKAM by selling 2,940 shares or 15.72% in the most recent quarter. The Hedge Fund company now holds 15,765 shares of AKAM which is valued at $815,523. Akamai Technologies makes up approx 0.03% of Euclid Advisors’s portfolio.Pine River Capital Management boosted its stake in AKAM in the latest quarter, The investment management firm added 3,028 additional shares and now holds a total of 36,523 shares of Akamai Technologies which is valued at $1.9 Million. Akamai Technologies makes up approx 0.08% of Pine River Capital Management’s portfolio.Nicholas Co Inc Wi boosted its stake in AKAM in the latest quarter, The investment management firm added 1,980 additional shares and now holds a total of 149,610 shares of Akamai Technologies which is valued at $7.6 Million. Akamai Technologies makes up approx 0.15% of Nicholas Co Inc Wi’s portfolio.Ropes Wealth Advisors boosted its stake in AKAM in the latest quarter, The investment management firm added 85 additional shares and now holds a total of 185 shares of Akamai Technologies which is valued at $9,341. Hussman Strategic Advisors sold out all of its stake in AKAM during the most recent quarter. The investment firm sold 100,000 shares of AKAM which is valued $5 Million.

Akamai Technologies closed down -0.16 points or -0.29% at $54.42 with 12,40,840 shares getting traded on Wednesday. Post opening the session at $54.01, the shares hit an intraday low of $53.73 and an intraday high of $54.62 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Akamai Technologies reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.63. The company had revenue of $567.73 million for the quarter, compared to analysts expectations of $564.26 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on Akamai Technologies. Company shares were Reiterated by FBR Capital on Apr 28, 2016 to “Underperform”, Firm has raised the Price Target to $ 43 from a previous price target of $42 .Shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform” and Lowered the Price Target to $ 59 from a previous price target of $62 .Akamai Technologies was Downgraded by Craig Hallum to ” Hold” on Apr 27, 2016.

Akamai Technologies Inc. is a provider of cloud services for delivering optimizing and securing online content and business applications. Its solutions include delivery of conventional content on Websites tools that support the delivery and operation of cloud-based applications as well as security solutions and live and on-demand streaming video capabilities. The Company’s solutions include Media Delivery Solutions Performance and Security Solutions and Service and Support Solutions. Media Delivery Solutions are designed to enable enterprises to execute their digital media distribution strategies. Performance and Security Solutions are designed to utilize the Company’s core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.

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