Ipswich Investment Management Lowers stake in Akamai Technologies (AKAM)

Akamai Technologies (AKAM) : Ipswich Investment Management reduced its stake in Akamai Technologies by 1.29% during the most recent quarter end. The investment management company now holds a total of 48,042 shares of Akamai Technologies which is valued at $2,375,196 after selling 630 shares in Akamai Technologies , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Akamai Technologies makes up approximately 1.16% of Ipswich Investment Management’s portfolio.

Other Hedge Funds, Including , Mizuho Trust Banking Ltd. boosted its stake in AKAM in the latest quarter, The investment management firm added 1,541 additional shares and now holds a total of 275,611 shares of Akamai Technologies which is valued at $13,626,208. Akamai Technologies makes up approx 0.04% of Mizuho Trust Banking Ltd.’s portfolio.Garrison Financial Corp boosted its stake in AKAM in the latest quarter, The investment management firm added 749 additional shares and now holds a total of 29,574 shares of Akamai Technologies which is valued at $1,493,783. Akamai Technologies makes up approx 0.98% of Garrison Financial Corp’s portfolio.Financial Architects Inc boosted its stake in AKAM in the latest quarter, The investment management firm added 3,155 additional shares and now holds a total of 3,755 shares of Akamai Technologies which is valued at $189,665. Akamai Technologies makes up approx 0.05% of Financial Architects Inc’s portfolio.

Akamai Technologies closed down -0.45 points or -0.89% at $50.21 with 14,05,299 shares getting traded on Monday. Post opening the session at $50.78, the shares hit an intraday low of $50.05 and an intraday high of $50.94 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 $0.66 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. 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 was Downgraded by Pacific Crest to ” Sector Weight” on Jul 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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