Forsta Ap-fonden adds Akamai Technologies (AKAM) to its portfolio

Akamai Technologies (AKAM) : Forsta Ap-fonden added new position in Akamai Technologies during the most recent quarter end. The investment management firm now holds 503,139 shares of Akamai Technologies which is valued at $25,866,376 , the company said in a statement filed on Aug 8, 2016 with the SEC.Akamai Technologies makes up approximately 0.73% of Forsta Ap-fonden’s portfolio.

Other Hedge Funds, Including , Brown Advisory Securities boosted its stake in AKAM in the latest quarter, The investment management firm added 1,312 additional shares and now holds a total of 6,257 shares of Akamai Technologies which is valued at $316,980. Akamai Technologies makes up approx 0.10% of Brown Advisory Securities’s portfolio.First Trust Advisors Lp boosted its stake in AKAM in the latest quarter, The investment management firm added 88,471 additional shares and now holds a total of 2,117,187 shares of Akamai Technologies which is valued at $107,256,693. Akamai Technologies makes up approx 0.33% of First Trust Advisors Lp’s portfolio.Levy Harkins Co Inc reduced its stake in AKAM by selling 8,350 shares or 5.74% in the most recent quarter. The Hedge Fund company now holds 137,244 shares of AKAM which is valued at $7,887,413. Akamai Technologies makes up approx 3.44% of Levy Harkins Co Inc’s portfolio.Gw&k Investment Management reduced its stake in AKAM by selling 4,056 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 164,642 shares of AKAM which is valued at $9,361,544. Akamai Technologies makes up approx 0.19% of Gw&k Investment Management’s portfolio.

Akamai Technologies opened for trading at $52.05 and hit $53.0075 on the upside on Monday, eventually ending the session at $52.05, with a gain of 0.15% or 0.08 points. The heightened volatility saw the trading volume jump to 19,60,670 shares. Company has a market cap of $9,094 M.

On the company’s financial health, Akamai Technologies reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.63. The company had revenue of $567.73 million for the quarter, compared to analysts expectations of $564.26 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on Akamai Technologies. Akamai Technologies was Upgraded by Wells Fargo to ” Outperform” on Aug 12, 2016. Shares were Reiterated by Piper Jaffray on Jul 27, 2016 to “Overweight” and Lowered the Price Target to $ 64 from a previous price target of $69 .Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Underperform” and Lowered the Price Target to $ 42 from a previous price target of $43 .

Akamai Technologies Inc. is a provider of cloud services for delivering optimizing and securing online content and business applications. Its solutions include delivery of conventional content on Websites tools that support the delivery and operation of cloud-based applications as well as security solutions and live and on-demand streaming video capabilities. The Company’s solutions include Media Delivery Solutions Performance and Security Solutions and Service and Support Solutions. Media Delivery Solutions are designed to enable enterprises to execute their digital media distribution strategies. Performance and Security Solutions are designed to utilize the Company’s core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.

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