North Star Asset Management Inc. raised its stake in shares of Akamai Technologies Inc. (NASDAQ:AKAM) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,013 shares of the technology infrastructure company’s stock after buying an additional 17,131 shares during the period. Akamai Technologies comprises 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 25th largest position. North Star Asset Management Inc. owned 0.10% of Akamai Technologies worth $10,180,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Advisory Services Network LLC raised its stake in Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock valued at $102,000 after buying an additional 175 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Akamai Technologies by 10.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,750 shares of the technology infrastructure company’s stock valued at $154,000 after buying an additional 250 shares during the period. Checchi Capital Advisers LLC raised its stake in Akamai Technologies by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock valued at $159,000 after buying an additional 24 shares during the period. Independent Portfolio Consultants Inc. raised its stake in Akamai Technologies by 56.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,070 shares of the technology infrastructure company’s stock valued at $172,000 after buying an additional 1,110 shares during the period. Finally, Financial Architects Inc raised its stake in Akamai Technologies by 525.8% in the second quarter. Financial Architects Inc now owns 3,755 shares of the technology infrastructure company’s stock valued at $210,000 after buying an additional 3,155 shares during the period. 89.88% of the stock is currently owned by institutional investors.

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

Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded down 0.72% on Thursday, reaching $53.89. 646,619 shares of the company’s stock traded hands. Akamai Technologies Inc. has a 12-month low of $39.43 and a 12-month high of $76.39. The firm has a market cap of $9.42 billion, a P/E ratio of 29.58 and a beta of 1.49. The stock has a 50-day moving average of $53.53 and a 200 day moving average of $53.23.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. The firm had revenue of $572 million for the quarter, compared to analysts’ expectations of $574.86 million. Akamai Technologies had a net margin of 14.31% and a return on equity of 11.82%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. On average, equities research analysts expect that Akamai Technologies Inc. will post $2.57 earnings per share for the current year.

A number of analysts recently weighed in on AKAM shares. Zacks Investment Research lowered shares of Akamai Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Wells Fargo & Co. raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $59.20 to $51.41 in a report on Friday, August 12th. Mizuho reaffirmed a “buy” rating and set a $65.00 target price on shares of Akamai Technologies in a report on Monday, October 3rd. Pacific Crest reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Tuesday, August 2nd. Finally, KeyCorp lowered shares of Akamai Technologies to an “overweight” rating in a 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 issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.50.

In related news, CEO F Thomson Leighton acquired 17,456 shares of Akamai Technologies stock in a transaction dated Friday, July 15th. The shares were purchased at an average price of $57.28 per share, for a total transaction of $999,879.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Sagan sold 23,255 shares of Akamai Technologies stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $51.33, for a total transaction of $1,193,679.15. Following the sale, the director now owns 65,077 shares in the company, valued at approximately $3,340,402.41. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Akamai Technologies Company Profile

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.

5 Day Chart for NASDAQ:AKAM

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