Hedge Funds Are Buying Akamai Technologies, Inc. (AKAM)

Now, key money managers have been driving this bullishness. Blue Harbour Group, managed by Clifton S. Robbins, established the most outsized position in Akamai Technologies, Inc. (NASDAQ:AKAM). Blue Harbour Group had $135.6 million invested in the company at the end of the quarter. Thomas E. Claugus’s GMT Capital also initiated a $26.4 million position during the quarter. The other funds with brand new AKAM positions are John C. Walker’s Stonerise Capital Management, Ken Griffin’s Citadel Investment Group, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Akamai Technologies, Inc. (NASDAQ:AKAM) but similarly valued. We will take a look at WestRock Co (NYSE:WRK), Mettler-Toledo International Inc. (NYSE:MTD), Total System Services, Inc. (NYSE:TSS), and CNH Industrial NV (NYSE:CNHI). All of these stocks’ market caps are closest to AKAM’s market cap.

As you can see these stocks had an average of 24.25 hedge funds with bullish positions and the average amount invested in these stocks was $518 million. That figure was $707 million in AKAM’s case. Total System Services, Inc. (NYSE:TSS) is the most popular stock in this table. On the other hand CNH Industrial NV (NYSE:CNHI) is the least popular one with only 15 bullish hedge fund positions. Compared to these stocks Akamai Technologies, Inc. (NASDAQ:AKAM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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