Akamai Technologies, Inc. (AKAM) Stake Increased by AQR Capital Management LLC

AQR Capital Management LLC raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 49.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,544,899 shares of the technology infrastructure company’s stock after buying an additional 836,384 shares during the period. AQR Capital Management LLC’s holdings in Akamai Technologies were worth $151,931,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AKAM. Vanguard Group Inc. boosted its stake in shares of Akamai Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock worth $963,462,000 after buying an additional 476,166 shares during the period. First Trust Advisors LP boosted its stake in shares of Akamai Technologies by 19.6% in the first quarter. First Trust Advisors LP now owns 3,420,437 shares of the technology infrastructure company’s stock worth $204,200,000 after buying an additional 560,932 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after buying an additional 780,019 shares during the period. Blue Harbour Group L.P. boosted its stake in shares of Akamai Technologies by 15.4% in the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after buying an additional 381,300 shares during the period. Finally, Fairpointe Capital LLC boosted its stake in shares of Akamai Technologies by 21.9% in the first quarter. Fairpointe Capital LLC now owns 2,231,158 shares of the technology infrastructure company’s stock worth $133,200,000 after buying an additional 400,520 shares during the period. 87.88% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) traded up 2.8063% during trading on Friday, hitting $51.4237. The stock had a trading volume of 1,561,944 shares. The firm has a market cap of $8.89 billion, a P/E ratio of 28.1004 and a beta of 0.71. The firm’s 50-day moving average is $49.39 and its 200-day moving average is $60.75. Akamai Technologies, Inc. has a one year low of $46.81 and a one year high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $609.24 million during the quarter, compared to the consensus estimate of $604.94 million. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. Equities research analysts forecast that Akamai Technologies, Inc. will post $2.56 EPS for the current year.

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A number of brokerages recently issued reports on AKAM. B. Riley reissued a “buy” rating and issued a $71.00 target price on shares of Akamai Technologies in a research report on Friday, March 31st. Nomura began coverage on Akamai Technologies in a research report on Thursday, May 25th. They issued a “neutral” rating and a $50.00 target price for the company. Robert W. Baird cut Akamai Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $55.00 in a research report on Friday, May 5th. Guggenheim cut Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $60.00 in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research cut Akamai Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, May 8th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. Akamai Technologies presently has an average rating of “Hold” and an average target price of $65.21.

In other news, Director Paul Sagan sold 17,889 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total transaction of $886,042.17. Following the completion of the transaction, the director now directly owns 64,147 shares in the company, valued at $3,177,200.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO F Thomson Leighton acquired 21,196 shares of Akamai Technologies stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average price of $47.17 per share, with a total value of $999,815.32. Following the completion of the transaction, the chief executive officer now owns 227,057 shares of the company’s stock, valued at approximately $10,710,278.69. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AKAM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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