Akamai Technologies, Inc. (AKAM) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 755,714 shares of the technology infrastructure company’s stock after selling 118,600 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.44% of Akamai Technologies worth $37,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Akamai Technologies by 2.6% during the second quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after purchasing an additional 424,152 shares in the last quarter. Clearbridge Investments LLC grew its position in Akamai Technologies by 13.1% during the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock valued at $368,794,000 after purchasing an additional 717,811 shares in the last quarter. First Trust Advisors LP grew its position in Akamai Technologies by 41.8% during the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock valued at $241,545,000 after purchasing an additional 1,428,886 shares in the last quarter. Blue Harbour Group L.P. grew its position in Akamai Technologies by 15.4% during the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock valued at $170,473,000 after purchasing an additional 381,300 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Akamai Technologies by 49.0% during the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock valued at $151,931,000 after purchasing an additional 836,384 shares in the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on AKAM shares. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $46.00 price objective (down from $52.00) on shares of Akamai Technologies in a research report on Friday, June 30th. Deutsche Bank AG reaffirmed a “buy” rating and set a $70.00 price objective (down from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating and set a $61.00 price objective on shares of Akamai Technologies in a research report on Friday, July 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $57.00 price objective on shares of Akamai Technologies in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.37.

In other news, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was acquired at an average cost of $46.83 per share, with a total value of $234,150.00. Following the completion of the purchase, the director now owns 62,192 shares of the company’s stock, valued at $2,912,451.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO F Thomson Leighton bought 19,817 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was purchased at an average cost of $50.45 per share, with a total value of $999,767.65. Following the completion of the purchase, the chief executive officer now directly owns 205,861 shares of the company’s stock, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. Insiders purchased 46,371 shares of company stock valued at $2,245,016 over the last three months. 3.20% of the stock is owned by company insiders.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) traded up 0.9738% during mid-day trading on Tuesday, hitting $50.7999. 179,545 shares of the stock were exchanged. The company has a market capitalization of $8.71 billion, a PE ratio of 29.0119 and a beta of 0.65. The firm has a 50-day moving average price of $47.40 and a 200 day moving average price of $50.83. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64.

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

ILLEGAL ACTIVITY WARNING: “Akamai Technologies, Inc. (AKAM) Shares Sold by Arrowst

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Akamai Technologies by 2.6% during the second quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after purchasing an additional 424,152 shares in the last quarter. Clearbridge Investments LLC grew its position in Akamai Technologies by 13.1% during the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock valued at $368,794,000 after purchasing an additional 717,811 shares in the last quarter. First Trust Advisors LP grew its position in Akamai Technologies by 41.8% during the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock valued at $241,545,000 after purchasing an additional 1,428,886 shares in the last quarter. Blue Harbour Group L.P. grew its position in Akamai Technologies by 15.4% during the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock valued at $170,473,000 after purchasing an additional 381,300 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Akamai Technologies by 49.0% during the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock valued at $151,931,000 after purchasing an additional 836,384 shares in the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on AKAM shares. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $46.00 price objective (down from $52.00) on shares of Akamai Technologies in a research report on Friday, June 30th. Deutsche Bank AG reaffirmed a “buy” rating and set a $70.00 price objective (down from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Cowen and Company reaffirmed a “hold” rating and set a $61.00 price objective on shares of Akamai Technologies in a research report on Friday, July 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $57.00 price objective on shares of Akamai Technologies in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.37.

In other news, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was acquired at an average cost of $46.83 per share, with a total value of $234,150.00. Following the completion of the purchase, the director now owns 62,192 shares of the company’s stock, valued at $2,912,451.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO F Thomson Leighton bought 19,817 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was purchased at an average cost of $50.45 per share, with a total value of $999,767.65. Following the completion of the purchase, the chief executive officer now directly owns 205,861 shares of the company’s stock, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. Insiders purchased 46,371 shares of company stock valued at $2,245,016 over the last three months. 3.20% of the stock is owned by company insiders.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) traded up 0.9738% during mid-day trading on Tuesday, hitting $50.7999. 179,545 shares of the stock were exchanged. The company has a market capitalization of $8.71 billion, a PE ratio of 29.0119 and a beta of 0.65. The firm has a 50-day moving average price of $47.40 and a 200 day moving average price of $50.83. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64.

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

ILLEGAL ACTIVITY WARNING: “Akamai Technologies, Inc. (AKAM) Shares Sold by Arrowstreet Capital Limited Partnership” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/10/akamai-technologies-inc-akam-shares-sold-by-arrowstreet-capital-limited-partnership.html.

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.

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

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