Akamai Technologies, Inc. (AKAM) Shares Bought by King Luther Capital Management Corp

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King Luther Capital Management Corp lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.2% during the second quarter, HoldingsChannel.com reports. The fund owned 2,301,365 shares of the technology infrastructure company’s stock after purchasing an additional 133,865 shares during the period. Akamai Technologies accounts for about 1.4% of King Luther Capital Management Corp’s holdings, making the stock its 19th biggest holding. King Luther Capital Management Corp’s holdings in Akamai Technologies were worth $168,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of Akamai Technologies by 729.0% during the second quarter. Janus Henderson Group PLC now owns 1,162,103 shares of the technology infrastructure company’s stock valued at $85,101,000 after acquiring an additional 1,021,926 shares during the period. Legal & General Group Plc boosted its holdings in Akamai Technologies by 5.6% during the second quarter. Legal & General Group Plc now owns 1,127,704 shares of the technology infrastructure company’s stock worth $82,584,000 after buying an additional 59,380 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Akamai Technologies by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 973,768 shares of the technology infrastructure company’s stock worth $69,118,000 after buying an additional 16,059 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Akamai Technologies by 4.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 920,906 shares of the technology infrastructure company’s stock worth $67,438,000 after buying an additional 41,481 shares in the last quarter. Finally, Eaton Vance Management boosted its holdings in Akamai Technologies by 7.2% during the first quarter. Eaton Vance Management now owns 883,342 shares of the technology infrastructure company’s stock worth $62,700,000 after buying an additional 59,683 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

A number of analysts recently weighed in on the stock. BidaskClub cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. ValuEngine upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. B. Riley reduced their target price on shares of Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating for the company in a report on Monday, July 23rd. Piper Jaffray Companies restated an “overweight” rating and set a $89.00 target price on shares of Akamai Technologies in a report on Friday, July 20th. Finally, TheStreet upgraded shares of Akamai Technologies from a “c+” rating to a “b-” rating in a report on Wednesday, May 9th. Thirteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $75.87.

Akamai Technologies stock opened at $73.69 on Thursday. The company has a market capitalization of $12.74 billion, a P/E ratio of 38.78, a PEG ratio of 2.12 and a beta of 0.51. Akamai Technologies, Inc. has a 52 week low of $45.94 and a 52 week high of $83.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $663.00 million during the quarter, compared to analyst estimates of $661.13 million. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. equities analysts forecast that Akamai Technologies, Inc. will post 2.48 EPS for the current year.

In other Akamai Technologies news, insider William Wheaton sold 5,000 shares of Akamai Technologies stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $80.05, for a total transaction of $400,250.00. Following the completion of the sale, the insider now owns 22,437 shares of the company’s stock, valued at approximately $1,796,081.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $71.20, for a total transaction of $284,800.00. Following the sale, the executive vice president now directly owns 19,951 shares of the company’s stock, valued at approximately $1,420,511.20. The disclosure for this sale can be found here. Insiders have sold a total of 158,190 shares of company stock valued at $12,118,375 in the last three months. Company insiders own 3.20% of the company’s stock.

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. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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

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