Pendal Group Ltd grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 135.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,181 shares of the technology infrastructure company’s stock after acquiring an additional 21,982 shares during the quarter. Pendal Group Ltd’s holdings in Akamai Technologies were worth $3,060,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Signaturefd LLC grew its holdings in shares of Akamai Technologies by 11.3% in the second quarter. Signaturefd LLC now owns 1,130 shares of the technology infrastructure company’s stock worth $91,000 after purchasing an additional 115 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Akamai Technologies by 1.2% in the second quarter. World Asset Management Inc now owns 11,701 shares of the technology infrastructure company’s stock worth $938,000 after purchasing an additional 136 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Akamai Technologies by 3.0% in the second quarter. Fulton Bank N.A. now owns 4,695 shares of the technology infrastructure company’s stock worth $377,000 after purchasing an additional 137 shares during the last quarter. S&CO Inc. grew its holdings in shares of Akamai Technologies by 2.1% in the second quarter. S&CO Inc. now owns 7,301 shares of the technology infrastructure company’s stock worth $585,000 after purchasing an additional 149 shares during the last quarter. Finally, Ashburton Jersey Ltd grew its holdings in shares of Akamai Technologies by 3.6% in the first quarter. Ashburton Jersey Ltd now owns 4,845 shares of the technology infrastructure company’s stock worth $347,000 after purchasing an additional 170 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

In other 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 transaction of $233,220.00. Following the sale, the director now owns 68,919 shares in the company, valued at approximately $5,357,763.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 3,247 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total transaction of $289,242.76. Following the sale, the chief financial officer now owns 8,795 shares in the company, valued at approximately $783,458.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,247 shares of company stock worth $1,715,963. 2.40% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on AKAM. Needham & Company LLC began coverage on shares of Akamai Technologies in a report on Monday, April 22nd. They issued a “buy” rating and a $95.00 target price on the stock. Craig Hallum set a $97.00 target price on shares of Akamai Technologies and gave the stock a “buy” rating in a report on Wednesday, July 31st. B. Riley restated a “buy” rating on shares of Akamai Technologies in a report on Wednesday, July 31st. Zacks Investment Research upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Tuesday, June 25th. Finally, Oppenheimer raised their target price on shares of Akamai Technologies from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Akamai Technologies has an average rating of “Buy” and an average price target of $87.81.

NASDAQ:AKAM traded down $5.77 during trading hours on Wednesday, hitting $83.60. The company had a trading volume of 149,370 shares, compared to its average volume of 1,269,790. The firm has a market cap of $14.31 billion, a P/E ratio of 30.56, a PEG ratio of 1.86 and a beta of 0.62. The company’s 50-day simple moving average is $83.75. Akamai Technologies, Inc. has a 52 week low of $57.18 and a 52 week high of $90.76. The company has a quick ratio of 3.19, a current ratio of 2.95 and a debt-to-equity ratio of 0.35.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.30. The business had revenue of $705.07 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 3.29 EPS for the current fiscal year.

Akamai Technologies Company 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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