Lathrop Investment Management Corp Increases Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)
Lathrop Investment Management Corp raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 107.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,744 shares of the technology infrastructure company’s stock after purchasing an additional 23,652 shares during the quarter. Akamai Technologies accounts for about 1.5% of Lathrop Investment Management Corp’s holdings, making the stock its 29th biggest position. Lathrop Investment Management Corp’s holdings in Akamai Technologies were worth $4,899,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in AKAM. Bay Harbor Wealth Management LLC raised its position in shares of Akamai Technologies by 19.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 570 shares of the technology infrastructure company’s stock worth $61,000 after purchasing an additional 91 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Akamai Technologies by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the technology infrastructure company’s stock valued at $750,000 after acquiring an additional 100 shares during the last quarter. Ellevest Inc. raised its holdings in Akamai Technologies by 16.2% in the 2nd quarter. Ellevest Inc. now owns 725 shares of the technology infrastructure company’s stock valued at $78,000 after acquiring an additional 101 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in Akamai Technologies by 1.2% in the 1st quarter. Koshinski Asset Management Inc. now owns 10,071 shares of the technology infrastructure company’s stock valued at $921,000 after acquiring an additional 115 shares during the last quarter. Finally, Slow Capital Inc. raised its holdings in Akamai Technologies by 0.5% in the 1st quarter. Slow Capital Inc. now owns 24,594 shares of the technology infrastructure company’s stock valued at $2,250,000 after acquiring an additional 119 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on AKAM shares. William Blair reiterated a “buy” rating on shares of Akamai Technologies in a report on Thursday, April 9th. Oppenheimer reiterated a “buy” rating and issued a $130.00 price target on shares of Akamai Technologies in a report on Monday, May 4th. Craig Hallum boosted their price target on Akamai Technologies from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI assumed coverage on shares of Akamai Technologies in a research note on Monday, April 20th. They set an “outperform” rating and a $120.00 price objective for the company. Finally, SunTrust Banks boosted their price objective on shares of Akamai Technologies from $108.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $117.00.
AKAM stock traded up $1.94 during trading on Friday, reaching $112.44. The stock had a trading volume of 1,183,093 shares, compared to its average volume of 1,577,586. Akamai Technologies, Inc. has a 1-year low of $75.18 and a 1-year high of $116.39. The company has a current ratio of 3.34, a quick ratio of 3.20 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $18.25 billion, a P/E ratio of 34.07, a PEG ratio of 2.28 and a beta of 0.34. The firm has a fifty day moving average price of $108.31 and a 200 day moving average price of $99.29.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 28th. The technology infrastructure company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. The firm had revenue of $794.72 million for the quarter, compared to analyst estimates of $767.38 million. Akamai Technologies had a net margin of 17.82% and a return on equity of 17.37%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. Sell-side analysts predict that Akamai Technologies, Inc. will post 3.93 EPS for the current year.
About Akamai Technologies
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.
Recommended Story: What is FinTech?
Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM).
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.