Los Angeles Capital Management & Equity Research Inc. Has $4.95 Million Holdings in Akamai Technologies, Inc. (AKAM)

Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 43.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,286 shares of the technology infrastructure company’s stock after purchasing an additional 30,276 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.06% of Akamai Technologies worth $4,945,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Akamai Technologies by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock worth $963,462,000 after purchasing an additional 476,166 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Akamai Technologies by 13.1% during the 1st quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after purchasing an additional 717,811 shares during the last quarter. First Trust Advisors LP increased its holdings in Akamai Technologies by 41.8% during the 2nd quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after purchasing an additional 1,428,886 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Akamai Technologies by 29.7% during the 1st quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after purchasing an additional 780,019 shares during the last quarter. Finally, Blue Harbour Group L.P. increased its holdings in Akamai Technologies by 15.4% during the 1st quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after purchasing an additional 381,300 shares during the last quarter. Institutional investors own 84.45% of the company’s stock.

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In other news, CEO F Thomson Leighton acquired 19,817 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were purchased at an average cost of $50.45 per share, for a total transaction of $999,767.65. Following the transaction, the chief executive officer now owns 205,861 shares of the company’s stock, valued at $10,385,687.45. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederic V. Salerno acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was purchased at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the completion of the transaction, the director now directly owns 62,192 shares in the company, valued at approximately $2,912,451.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 66,768 shares of company stock worth $3,244,877. 3.20% of the stock is owned by corporate insiders.

Akamai Technologies, Inc. (NASDAQ AKAM) opened at 46.80 on Wednesday. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.64. The firm’s 50-day moving average price is $46.78 and its 200-day moving average price is $53.05. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 26.73 and a beta of 0.64.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. Akamai Technologies’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. Equities research analysts predict that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.

Several research firms have issued reports on AKAM. Vetr downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a report on Wednesday. B. Riley restated a “buy” rating and set a $66.00 price objective on shares of Akamai Technologies in a report on Tuesday, June 6th. Instinet restated a “neutral” rating and set a $47.00 price objective (down from $48.00) on shares of Akamai Technologies in a report on Tuesday, September 5th. BidaskClub downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Finally, Stifel Nicolaus restated a “hold” rating and set a $56.00 price objective (down from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $61.50.

About Akamai Technologies

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.

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

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