First Trust Advisors LP increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 41.8% during the second quarter, Holdings Channel reports. The firm owned 4,849,323 shares of the technology infrastructure company’s stock after buying an additional 1,428,886 shares during the period. Akamai Technologies accounts for approximately 0.6% of First Trust Advisors LP’s portfolio, making the stock its 14th largest position. First Trust Advisors LP’s holdings in Akamai Technologies were worth $241,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Akamai Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock worth $963,462,000 after buying an additional 476,166 shares during the period. Clearbridge Investments LLC raised its position in shares of Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after buying an additional 717,811 shares during the period. Ameriprise Financial Inc. raised its position in shares of Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after buying an additional 780,019 shares during the period. Blue Harbour Group L.P. raised its position in shares of Akamai Technologies by 15.4% in the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after buying an additional 381,300 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Akamai Technologies by 49.0% in the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock worth $151,931,000 after buying an additional 836,384 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Akamai Technologies, Inc. (NASDAQ AKAM) opened at 46.31 on Friday. Akamai Technologies, Inc. has a 1-year low of $45.41 and a 1-year high of $71.64. The stock’s 50 day moving average is $49.53 and its 200 day moving average is $56.26. The company has a market cap of $7.97 billion, a P/E ratio of 26.45 and a beta of 0.66.

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

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A number of research analysts recently commented on AKAM shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $57.00 price target on shares of Akamai Technologies in a research note on Wednesday, July 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $58.00 price target (down previously from $65.00) on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $58.00 price target (down previously from $62.00) on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $46.00 price target (down previously from $52.00) on shares of Akamai Technologies in a research note on Friday, June 30th. Finally, B. Riley reiterated a “buy” rating and issued a $66.00 price target on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $62.76.

In other news, Director Frederic V. Salerno purchased 5,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the acquisition, the director now directly owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton purchased 21,196 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average price of $47.17 per share, with a total value of $999,815.32. Following the completion of the acquisition, the chief executive officer now directly owns 227,057 shares in the company, valued at $10,710,278.69. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 66,410 shares of company stock valued at $3,233,594. Company insiders own 3.20% 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 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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