Disciplined Growth Investors Inc. MN Has $127.11 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Disciplined Growth Investors Inc. MN boosted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,411,028 shares of the technology infrastructure company’s stock after purchasing an additional 14,347 shares during the quarter. Akamai Technologies comprises 2.4% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 16th biggest position. Disciplined Growth Investors Inc. MN’s holdings in Akamai Technologies were worth $127,105,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Akamai Technologies in the 1st quarter worth $31,000. Versant Capital Management Inc grew its position in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC acquired a new position in shares of Akamai Technologies during the 2nd quarter worth about $28,000. Family Firm Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter valued at about $35,000. Finally, Covestor Ltd raised its position in shares of Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after acquiring an additional 310 shares during the period. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $101.57 on Friday. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The stock has a market capitalization of $15.47 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.23 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day moving average price of $98.55 and a 200 day moving average price of $98.02.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. Analysts predict that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several recent analyst reports. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Piper Sandler decreased their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $116.47.

Insider Activity

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is owned by company insiders.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.