Los Angeles Capital Management & Equity Research Inc. Purchases 71,103 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Los Angeles Capital Management & Equity Research Inc. grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 30.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,273 shares of the technology infrastructure company’s stock after acquiring an additional 71,103 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.19% of Akamai Technologies worth $24,625,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AKAM. Squar Milner Financial Services LLC bought a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $26,000. Truvestments Capital LLC bought a new position in shares of Akamai Technologies during the 1st quarter worth approximately $29,000. Mcmillion Capital Management Inc. bought a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $31,000. Destination Wealth Management lifted its position in shares of Akamai Technologies by 215.8% during the 2nd quarter. Destination Wealth Management now owns 439 shares of the technology infrastructure company’s stock worth $35,000 after buying an additional 300 shares during the period. Finally, Horan Capital Advisors LLC. bought a new position in shares of Akamai Technologies during the 1st quarter worth approximately $57,000. Institutional investors own 87.70% of the company’s stock.

NASDAQ:AKAM traded up $1.01 during midday trading on Friday, hitting $89.92. The company had a trading volume of 1,511,555 shares, compared to its average volume of 1,515,639. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $90.76. The stock has a fifty day simple moving average of $82.90. The firm has a market cap of $14.59 billion, a P/E ratio of 32.58, a PEG ratio of 1.84 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 3.19.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.30. The business had revenue of $705.07 million during the quarter, compared to the consensus estimate of $695.88 million. Akamai Technologies had a net margin of 15.12% and a return on equity of 16.32%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 3.29 earnings per share for the current year.

Several equities analysts recently commented on AKAM shares. Piper Jaffray Companies set a $97.00 target price on Akamai Technologies and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $83.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Cowen set a $93.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Credit Suisse Group lifted their price objective on Akamai Technologies from $75.00 to $81.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, Nomura lifted their price objective on Akamai Technologies from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies has an average rating of “Buy” and an average target price of $87.81.

In other Akamai Technologies news, Director Frederic V. Salerno sold 3,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $77.74, for a total value of $233,220.00. Following the completion of the sale, the director now directly owns 68,919 shares of the company’s stock, valued at $5,357,763.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 3,247 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total transaction of $289,242.76. Following the completion of the sale, the chief financial officer now directly owns 8,795 shares of the company’s stock, valued at $783,458.60. The disclosure for this sale can be found here. Insiders sold 21,247 shares of company stock valued at $1,715,963 over the last three months. 2.40% of the stock is currently owned by insiders.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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

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