Herald Investment Management Ltd reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,200 shares of the technology infrastructure company’s stock after selling 5,000 shares during the period. Herald Investment Management Ltd’s holdings in Akamai Technologies were worth $1,013,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AKAM. Capital World Investors boosted its stake in Akamai Technologies by 27.7% in the third quarter. Capital World Investors now owns 19,185,671 shares of the technology infrastructure company’s stock worth $1,016,649,000 after buying an additional 4,156,976 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Akamai Technologies by 0.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,466,926 shares of the technology infrastructure company’s stock worth $236,702,000 after buying an additional 25,159 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Akamai Technologies by 19.7% in the second quarter. William Blair Investment Management LLC now owns 4,428,561 shares of the technology infrastructure company’s stock worth $247,689,000 after buying an additional 728,294 shares in the last quarter. Coatue Management LLC boosted its stake in Akamai Technologies by 13.6% in the second quarter. Coatue Management LLC now owns 3,354,436 shares of the technology infrastructure company’s stock worth $187,614,000 after buying an additional 402,297 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Akamai Technologies by 17.4% in the third quarter. First Trust Advisors LP now owns 2,485,971 shares of the technology infrastructure company’s stock worth $131,732,000 after buying an additional 368,784 shares in the last quarter. Hedge funds and other institutional investors own 91.07% of the company’s stock.

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) traded up 0.53% on Thursday, hitting $64.24. 1,760,711 shares of the stock were exchanged. The company has a 50 day moving average of $67.99 and a 200 day moving average of $61.11. Akamai Technologies, Inc. has a 52-week low of $47.80 and a 52-week high of $71.64. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 35.89 and a beta of 0.95.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 7th. The technology infrastructure company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%. The firm had revenue of $616 million for the quarter, compared to the consensus estimate of $605.57 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts forecast that Akamai Technologies, Inc. will post $2.79 earnings per share for the current year.

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A number of analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Akamai Technologies from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 8th. B. Riley reiterated a “buy” rating and issued a $75.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 8th. JMP Securities lifted their price objective on shares of Akamai Technologies from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Piper Jaffray Companies reiterated a “buy” rating and issued a $74.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 8th. Finally, FBR & Co reiterated a “hold” rating and issued a $59.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.51.

In other news, CEO F Thomson Leighton purchased 14,828 shares of the stock in a transaction dated Thursday, December 15th. The shares were purchased at an average cost of $67.43 per share, with a total value of $999,852.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Sagan sold 18,667 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $67.81, for a total transaction of $1,265,809.27. Following the completion of the sale, the director now directly owns 60,489 shares in the company, valued at $4,101,759.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,386 shares of company stock worth $3,058,604. Insiders own 2.70% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

5 Day Chart for NASDAQ:AKAM

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