Nelson Roberts Investment Advisors Lowers stake in Akamai Technologies (AKAM)

Akamai Technologies (AKAM) : Nelson Roberts Investment Advisors reduced its stake in Akamai Technologies by 1.66% during the most recent quarter end. The investment management company now holds a total of 126,929 shares of Akamai Technologies which is valued at $6,596,500 after selling 2,143 shares in Akamai Technologies , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Akamai Technologies makes up approximately 2.37% of Nelson Roberts Investment Advisors’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) reduced its stake in AKAM by selling 5,017 shares or 99.01% in the most recent quarter. The Hedge Fund company now holds 50 shares of AKAM which is valued at $2,599. Forsta Ap-fonden added AKAM to its portfolio by purchasing 503,139 company shares during the most recent quarter which is valued at $25,866,376. Akamai Technologies makes up approx 0.73% of Forsta Ap-fonden’s portfolio.Spot Trading L.l.c boosted its stake in AKAM in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 289 shares of Akamai Technologies which is valued at $14,288.Levy Harkins Co Inc reduced its stake in AKAM by selling 8,350 shares or 5.74% in the most recent quarter. The Hedge Fund company now holds 137,244 shares of AKAM which is valued at $7,887,413. Akamai Technologies makes up approx 3.44% of Levy Harkins Co Inc’s portfolio.

Akamai Technologies opened for trading at $52.3 and hit $52.96 on the upside on Friday, eventually ending the session at $52.95, with a gain of 1.15% or 0.6 points. The heightened volatility saw the trading volume jump to 13,91,247 shares. Company has a market cap of $9,252 M.

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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