Lumina Fund Management Exits Position in Akamai Technologies (AKAM)

Akamai Technologies (AKAM) : Lumina Fund Management has sold out all of its stake in Akamai Technologies during the most recent quarter, according to the disclosure filed by the company on Nov 14, 2016 with the SEC. The investment management company has sold out 48,800 shares of Akamai Technologies which is valued at $3,193,472.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The reduced its stake in AKAM by selling 1,330 shares or 0.73% in the most recent quarter. The Hedge Fund company now holds 180,006 shares of AKAM which is valued at $11,781,393. Akamai Technologies makes up approx 0.02% of Manufacturers Life Insurance Company The’s portfolio.New York State Teachers Retirement System reduced its stake in AKAM by selling 3,751 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 297,585 shares of AKAM which is valued at $19,706,079. Akamai Technologies makes up approx 0.05% of New York State Teachers Retirement System’s portfolio.Thompson Davis reduced its stake in AKAM by selling 70 shares or 11.97% in the most recent quarter. The Hedge Fund company now holds 515 shares of AKAM which is valued at $34,258. Akamai Technologies makes up approx 0.06% of Thompson Davis’s portfolio.

Akamai Technologies closed down -0.16 points or -0.24% at $66.44 with 15,15,604 shares getting traded on Monday. Post opening the session at $66.63, the shares hit an intraday low of $66.08 and an intraday high of $66.74 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Akamai Technologies reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.61. The company had revenue of $584.10 million for the quarter, compared to analysts expectations of $572.09 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on Akamai Technologies. Company shares were Reiterated by RBC Capital Mkts on Oct 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 67 from a previous price target of $59 .Company shares were Upgraded by FBR & Co. on Oct 26, 2016 to ” Mkt Perform”, Firm has raised the Price Target to $ 55 from a previous price target of $42 .Company shares were Reiterated by Stifel on Oct 26, 2016 to “Hold”, Firm has raised the Price Target to $ 65 from a previous price target of $58 .

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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