Generation Investment Management Llp buys $265,205,924 stake in Akamai Technologies (AKAM)

Akamai Technologies (AKAM) : Generation Investment Management Llp scooped up 1,400 additional shares in Akamai Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 5,103,058 shares of Akamai Technologies which is valued at $265,205,924.Akamai Technologies makes up approximately 2.83% of Generation Investment Management Llp’s portfolio.

Other Hedge Funds, Including , Twin Tree Management Lp boosted its stake in AKAM in the latest quarter, The investment management firm added 9,944 additional shares and now holds a total of 28,791 shares of Akamai Technologies which is valued at $1,496,268. Akamai Technologies makes up approx 0.29% of Twin Tree Management Lp’s portfolio.Coatue Management boosted its stake in AKAM in the latest quarter, The investment management firm added 402,297 additional shares and now holds a total of 3,354,436 shares of Akamai Technologies which is valued at $174,330,039. Akamai Technologies makes up approx 2.29% of Coatue Management’s portfolio. J.safra Asset Management Corp added AKAM to its portfolio by purchasing 390 company shares during the most recent quarter which is valued at $20,268. Akamai Technologies makes up approx 0.03% of J.safra Asset Management Corp’s portfolio.Baird Financial Group boosted its stake in AKAM in the latest quarter, The investment management firm added 229,870 additional shares and now holds a total of 702,537 shares of Akamai Technologies which is valued at $36,510,848. Akamai Technologies makes up approx 0.32% of Baird Financial Group’s portfolio. Stanley-laman Group Ltd. added AKAM to its portfolio by purchasing 16,690 company shares during the most recent quarter which is valued at $845,515. Akamai Technologies makes up approx 0.32% of Stanley-laman Group Ltd.’s portfolio.

Akamai Technologies opened for trading at $54.82 and hit $55.08 on the upside on Thursday, eventually ending the session at $55.07, with a gain of 0.31% or 0.17 points. The heightened volatility saw the trading volume jump to 17,70,093 shares. Company has a market cap of $9,622 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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