Fcm Investmentstx Lowers stake in Akamai Technologies (AKAM)

Akamai Technologies (AKAM) : Fcm Investmentstx reduced its stake in Akamai Technologies by 1.27% during the most recent quarter end. The investment management company now holds a total of 60,441 shares of Akamai Technologies which is valued at $3,271,671 after selling 775 shares in Akamai Technologies , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Akamai Technologies makes up approximately 1.87% of Fcm Investmentstx’s portfolio.

Other Hedge Funds, Including , Lgt Capital Partners Ltd. added AKAM to its portfolio by purchasing 50,000 company shares during the most recent quarter which is valued at $2,765,500. Akamai Technologies makes up approx 0.39% of Lgt Capital Partners Ltd.’s portfolio. Cutler Group Lp added AKAM to its portfolio by purchasing 130 company shares during the most recent quarter which is valued at $7,190.Advisory Services Network boosted its stake in AKAM in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 1,855 shares of Akamai Technologies which is valued at $101,932. Akamai Technologies makes up approx 0.02% of Advisory Services Network’s portfolio.First Mercantile Trust Co reduced its stake in AKAM by selling 1,586 shares or 10.05% in the most recent quarter. The Hedge Fund company now holds 14,192 shares of AKAM which is valued at $779,850. Akamai Technologies makes up approx 0.10% of First Mercantile Trust Co’s portfolio.

Akamai Technologies closed down -1.18 points or -2.13% at $54.13 with 17,95,787 shares getting traded on Tuesday. Post opening the session at $55.3, the shares hit an intraday low of $53.61 and an intraday high of $55.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Akamai Technologies was Upgraded by Wells Fargo to ” Outperform” on Aug 12, 2016. Shares were Reiterated by Piper Jaffray on Jul 27, 2016 to “Overweight” and Lowered the Price Target to $ 64 from a previous price target of $69 .Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Underperform” and Lowered the Price Target to $ 42 from a previous price target of $43 .

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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