ETF Managers Group LLC purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 906,562 shares of the technology infrastructure company’s stock, valued at approximately $45,156,000. Akamai Technologies makes up 3.8% of ETF Managers Group LLC’s portfolio, making the stock its 2nd biggest holding. ETF Managers Group LLC owned about 0.53% of Akamai Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AKAM. Cadence Capital Management LLC grew its position in Akamai Technologies by 0.6% during the 2nd quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock valued at $236,000 after purchasing an additional 30 shares during the last quarter. Cleararc Capital Inc. grew its position in Akamai Technologies by 0.9% during the 1st quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock valued at $254,000 after purchasing an additional 37 shares during the last quarter. FTB Advisors Inc. grew its position in Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after purchasing an additional 59 shares during the last quarter. Advantus Capital Management Inc grew its position in Akamai Technologies by 0.4% during the 1st quarter. Advantus Capital Management Inc now owns 17,334 shares of the technology infrastructure company’s stock valued at $1,035,000 after purchasing an additional 75 shares during the last quarter. Finally, Trust Co grew its position in Akamai Technologies by 2.1% during the 1st quarter. Trust Co now owns 4,447 shares of the technology infrastructure company’s stock valued at $266,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) traded up 0.32% during mid-day trading on Thursday, hitting $50.66. 527,801 shares of the stock were exchanged. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 28.93 and a beta of 0.65. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.64. The company has a 50-day moving average price of $46.98 and a 200-day moving average price of $51.21.

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

Several analysts recently commented on the stock. Vetr downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a research report on Wednesday, September 13th. Cowen and Company reissued a “hold” rating and set a $60.00 price objective on shares of Akamai Technologies in a research report on Friday, July 28th. Robert W. Baird reissued a “hold” rating and set a $52.00 price objective on shares of Akamai Technologies in a research report on Friday, September 1st. BidaskClub downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $53.00 to $54.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Hold” and an average target price of $60.28.

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In other Akamai Technologies news, CEO F Thomson Leighton purchased 21,554 shares of the stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $46.91 per share, for a total transaction of $1,011,098.14. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Wheaton sold 10,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.81, for a total value of $498,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 46,371 shares of company stock valued at $2,245,016. Company insiders own 3.20% of the company’s stock.

Akamai Technologies Profile

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.

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

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