North Star Asset Management Inc. continued to hold its stake in shares of Akamai Technologies Inc. (NASDAQ:AKAM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 164,882 shares of the technology infrastructure company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Akamai Technologies were worth $9,162,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in AKAM. PGGM Investments acquired a new stake in shares of Akamai Technologies during the second quarter valued at about $30,442,000. First Quadrant L P CA raised its stake in shares of Akamai Technologies by 5,394.4% in the second quarter. First Quadrant L P CA now owns 296,700 shares of the technology infrastructure company’s stock valued at $16,594,000 after buying an additional 291,300 shares during the period. Franklin Resources Inc. raised its stake in shares of Akamai Technologies by 118.3% in the first quarter. Franklin Resources Inc. now owns 447,688 shares of the technology infrastructure company’s stock valued at $24,878,000 after buying an additional 242,600 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of Akamai Technologies during the first quarter valued at about $6,591,000. Finally, BB&T Securities LLC raised its stake in shares of Akamai Technologies by 16.5% in the first quarter. BB&T Securities LLC now owns 687,039 shares of the technology infrastructure company’s stock valued at $38,178,000 after buying an additional 97,145 shares during the period. Institutional investors own 89.88% of the company’s stock.
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded up 0.16% on Friday, reaching $54.95. 1,146,674 shares of the company’s stock traded hands. Akamai Technologies Inc. has a 52 week low of $39.43 and a 52 week high of $76.39. The firm has a market capitalization of $9.60 billion, a P/E ratio of 30.16 and a beta of 1.49. The firm’s 50 day moving average is $53.33 and its 200 day moving average is $53.26.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The business had revenue of $572 million for the quarter, compared to analyst estimates of $574.86 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts expect that Akamai Technologies Inc. will post $2.57 earnings per share for the current fiscal year.
A number of research firms have weighed in on AKAM. Zacks Investment Research lowered shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Co. upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $59.20 to $51.41 in a research report on Friday, August 12th. Mizuho reiterated a “buy” rating and issued a $65.00 price target on shares of Akamai Technologies in a research report on Monday. Pacific Crest reiterated a “hold” rating on shares of Akamai Technologies in a research report on Tuesday, August 2nd. Finally, KeyCorp lowered shares of Akamai Technologies to an “overweight” rating in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $61.50.
In related news, CEO F Thomson Leighton purchased 19,468 shares of Akamai Technologies stock in a transaction dated Thursday, September 15th. The shares were acquired at an average price of $51.36 per share, for a total transaction of $999,876.48. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rick M. Mcconnell sold 3,550 shares of Akamai Technologies stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $58.00, for a total value of $205,900.00. Following the transaction, the insider now owns 48,926 shares in the company, valued at approximately $2,837,708. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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