FIL Ltd Has $92.61 Million Stake in Akamai Technologies, Inc. (AKAM)

FIL Ltd grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 63.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,859,231 shares of the technology infrastructure company’s stock after buying an additional 722,170 shares during the quarter. FIL Ltd owned 1.08% of Akamai Technologies worth $92,609,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Cadence Capital Management LLC raised its position in shares of Akamai Technologies by 0.6% in the 2nd quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock valued at $236,000 after buying an additional 30 shares in the last quarter. Cleararc Capital Inc. grew its holdings in Akamai Technologies by 0.9% during the 1st quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock worth $254,000 after acquiring an additional 37 shares during the last quarter. Advantus Capital Management Inc grew its holdings in Akamai Technologies by 0.4% during the 1st quarter. Advantus Capital Management Inc now owns 17,334 shares of the technology infrastructure company’s stock worth $1,035,000 after acquiring an additional 75 shares during the last quarter. Trust Co grew its holdings in Akamai Technologies by 2.1% during the 1st quarter. Trust Co now owns 4,447 shares of the technology infrastructure company’s stock worth $266,000 after acquiring an additional 90 shares during the last quarter. Finally, Utah Retirement Systems grew its holdings in Akamai Technologies by 0.3% during the 1st quarter. Utah Retirement Systems now owns 31,496 shares of the technology infrastructure company’s stock worth $1,880,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.

Akamai Technologies, Inc. (NASDAQ AKAM) traded up 0.40% during mid-day trading on Friday, reaching $47.71. The company had a trading volume of 271,194 shares. The stock has a 50 day moving average of $46.54 and a 200 day moving average of $52.35. Akamai Technologies, Inc. has a 52 week low of $44.65 and a 52 week high of $71.64. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 27.25 and a beta of 0.64.

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

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A number of research firms have weighed in on AKAM. Royal Bank Of Canada reissued a “sector perform” rating and set a $54.00 target price (down from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a research note on Wednesday, July 26th. Oppenheimer Holdings, Inc. dropped their target price on shares of Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 26th. Stifel Nicolaus reiterated a “hold” rating and set a $56.00 target price (down previously from $58.00) on shares of Akamai Technologies in a research report on Wednesday, July 26th. Finally, Cowen and Company reiterated a “hold” rating and set a $61.00 target price on shares of Akamai Technologies in a research report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $61.50.

In related news, CEO F Thomson Leighton purchased 21,554 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederic V. Salerno purchased 5,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were bought at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the acquisition, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. Insiders purchased a total of 46,371 shares of company stock worth $2,245,016 in the last quarter. Company insiders own 3.20% of the company’s stock.

Akamai Technologies 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.

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

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