Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 94.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 26,755 shares of the technology infrastructure company’s stock after buying an additional 12,973 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Akamai Technologies were worth $1,957,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Akamai Technologies by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 260,048 shares of the technology infrastructure company’s stock valued at $18,458,000 after buying an additional 3,904 shares during the period. Atria Investments LLC raised its holdings in shares of Akamai Technologies by 13.2% in the 2nd quarter. Atria Investments LLC now owns 6,139 shares of the technology infrastructure company’s stock valued at $450,000 after buying an additional 716 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Akamai Technologies in the 2nd quarter valued at $246,000. Oakbrook Investments LLC raised its holdings in shares of Akamai Technologies by 5.5% in the 2nd quarter. Oakbrook Investments LLC now owns 13,470 shares of the technology infrastructure company’s stock valued at $986,000 after buying an additional 700 shares during the period. Finally, World Asset Management Inc raised its holdings in shares of Akamai Technologies by 17.8% in the 2nd quarter. World Asset Management Inc now owns 11,903 shares of the technology infrastructure company’s stock valued at $872,000 after buying an additional 1,796 shares during the period. 90.50% of the stock is owned by institutional investors and hedge funds.

AKAM has been the topic of several recent research reports. SunTrust Banks upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $78.00 to $82.00 in a report on Tuesday, October 30th. Credit Suisse Group restated a “neutral” rating and set a $84.00 price target (down previously from $88.00) on shares of Akamai Technologies in a report on Monday, August 13th. ValuEngine downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. TheStreet downgraded Akamai Technologies from a “b-” rating to a “c+” rating in a report on Friday, August 10th. Finally, Piper Jaffray Companies set a $94.00 price target on Akamai Technologies and gave the stock a “buy” rating in a report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $80.44.

NASDAQ:AKAM opened at $69.87 on Monday. The stock has a market cap of $11.38 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 1.79 and a beta of 0.56. Akamai Technologies, Inc. has a 1 year low of $54.39 and a 1 year high of $83.08. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.27.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Monday, October 29th. The technology infrastructure company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The firm had revenue of $669.63 million during the quarter, compared to analysts’ expectations of $664.17 million. Akamai Technologies had a return on equity of 12.06% and a net margin of 8.39%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. As a group, research analysts forecast that Akamai Technologies, Inc. will post 2.66 earnings per share for the current year.

Akamai Technologies announced that its Board of Directors has initiated a share repurchase plan on Monday, October 29th that permits the company to repurchase $1.10 billion in shares. This repurchase authorization permits the technology infrastructure company to repurchase up to 10.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, SVP Aaron Ahola sold 1,123 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $73.63, for a total value of $82,686.49. Following the completion of the sale, the senior vice president now directly owns 4,035 shares of the company’s stock, valued at approximately $297,097.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William Wheaton sold 3,922 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $71.73, for a total value of $281,325.06. Following the completion of the sale, the insider now directly owns 26,820 shares of the company’s stock, valued at $1,923,798.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,545 shares of company stock valued at $4,567,902. Insiders own 3.20% of the company’s stock.

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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.

Further Reading: Technical Analysis of Stocks, How Can It Help

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

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