Fairpointe Capital Llc Decreased Akamai Technologies (NASDAQ:AKAM) Stake By $28.49 Million

February 23, 2018 - By Stephen Andrade

Investors sentiment increased to 0.99 in Q3 2017. Its up 0.24, from 0.75 in 2017Q2. It is positive, as 51 investors sold AKAM shares while 138 reduced holdings. 38 funds opened positions while 150 raised stakes. 138.17 million shares or 0.41% less from 138.74 million shares in 2017Q2 were reported. First Ltd Partnership holds 0.62% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM) for 4.96M shares. Daiwa Secs Group Inc reported 5,183 shares. Nationwide Fund Advsr holds 0.02% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM) for 101,991 shares. Eaton Vance Management, a Massachusetts-based fund reported 855,266 shares. New Mexico Educational Retirement Board holds 0.04% or 16,048 shares. Asset Mngmt One invested in 263,454 shares. Integral Derivatives Ltd Limited Liability Company reported 4,922 shares. Amica Retiree Medical Tru accumulated 1,253 shares. Teachers And Annuity Association Of America holds 399,143 shares or 0.52% of its portfolio. Denver Advsr Lc accumulated 6,350 shares. State Board Of Administration Of Florida Retirement reported 0.03% in Akamai Technologies, Inc. (NASDAQ:AKAM). Alpha Cubed Investments Ltd Liability Company accumulated 0.06% or 8,651 shares. Nikko Asset Mgmt Americas invested in 0.01% or 2,500 shares. Reliance Tru Of Delaware has 18,811 shares for 0.14% of their portfolio. North Star Asset Inc holds 1.18% or 186,905 shares in its portfolio.

Since October 2, 2017, it had 1 insider purchase, and 6 insider sales for $4.43 million activity. Another trade for 17,537 shares valued at $999,784 was bought by LEIGHTON F THOMSON. Wheaton William sold $498,100 worth of Akamai Technologies, Inc. (NASDAQ:AKAM) on Monday, October 2. Another trade for 7,579 shares valued at $386,529 was sold by MCCONNELL RICK M.

Fairpointe Capital Llc decreased its stake in Akamai Technologies (NASDAQ:AKAM) by 12.43% based on its latest 2017Q4 regulatory filing with the SEC. Fairpointe Capital Llc sold 438,291 shares as the company’s stock declined 24.00% while stock markets rallied. The institutional investor held 3.09M shares of the miscellaneous company at the end of 2017Q4, valued at $200.77 million, down from 3.53M at the end of the previous reported quarter. Fairpointe Capital Llc who had been investing in Akamai Technologies for a number of months, seems to be less bullish one the $11.39 billion market cap company. The stock increased 1.68% or $1.11 during the last trading session, reaching $67.36. About 773,870 shares traded. Akamai Technologies, Inc. (NASDAQ:AKAM) has declined 6.51% since February 23, 2017 and is downtrending. It has underperformed by 23.21% the S&P500.

Fairpointe Capital Llc is a Illinois-based institutional investor with more than $7.00 billion AUM in March, 2014. Taken from Fairpointe Capital latest Adv, the fund reported to have 13 full and part-time employees. Among which 5 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

Akamai Technologies, Inc. (NASDAQ:AKAM) Ratings Coverage

Among 29 analysts covering Akamai Tech (NASDAQ:AKAM), 14 have Buy rating, 3 Sell and 12 Hold. Therefore 48% are positive. Akamai Tech had 88 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Tuesday, February 6 by Cowen & Co. On Wednesday, October 28 the stock rating was downgraded by Craig Hallum to “Hold”. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) has “Hold” rating given on Sunday, September 3 by RBC Capital Markets. FBR Capital maintained the stock with “Underperform” rating in Thursday, April 28 report. The rating was downgraded by KeyBanc Capital Markets to “Sell” on Thursday, January 11. SunTrust maintained the shares of AKAM in report on Wednesday, February 7 with “Hold” rating. The company was maintained on Wednesday, July 26 by Piper Jaffray. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) has “Underperform” rating given on Thursday, October 29 by FBR Capital. Robert W. Baird maintained it with “Hold” rating and $72.0 target in Wednesday, February 7 report. The rating was maintained by Morgan Stanley with “Equal-Weight” on Wednesday, October 28.

Akamai Technologies, Inc. provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company has market cap of $11.39 billion. The firm offers Web and mobile performance solutions, such as Ion, a situational performance solution that consists of an integrated suite of Web delivery, acceleration, and optimization technologies; Dynamic Site Accelerator that helps in consistent Website performance; IP Application Accelerator to enable enterprises to deliver Internet Protocol applications; Global Traffic Management, a fault-tolerant solution; Image Manager that automatically optimizes online images; and Cloudlets, which provides self-serviceable controls and capabilities. It has a 53.46 P/E ratio. It also provides cloud security solutions, including Kona Site Defender, Bot Manager, Fast Domain Name System, Prolexic Routed, and Client Reputation; enterprise solutions comprising Enterprise Application Access and Akamai Cloud Connect.

More notable recent Akamai Technologies, Inc. (NASDAQ:AKAM) news were published by: Prnewswire.com which released: “Akamai Technologies To Participate In The Morgan Stanley Technology, Media And …” on February 22, 2018, also Investorplace.com with their article: “3 Stocks to Watch on Wednesday: Akamai Technologies, Inc. (AKAM), Cerner …” published on February 07, 2018, Prnewswire.com published: “Q4 2017 Akamai State of The Internet / Security Report Shows Botnets Shift …” on February 20, 2018. More interesting news about Akamai Technologies, Inc. (NASDAQ:AKAM) were released by: Bizjournals.com and their article: “Internet giant Akamai is at a crossroads. Here’s what’s next.” published on February 15, 2018 as well as Seekingalpha.com‘s news article titled: “Akamai Technologies: Avoid” with publication date: February 14, 2018.

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