Legal & General Group Plc lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 812,833 shares of the technology infrastructure company’s stock after selling 322 shares during the period. Legal & General Group Plc owned about 0.47% of Akamai Technologies worth $40,488,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. DnB Asset Management AS boosted its position in shares of Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock valued at $776,000 after buying an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Akamai Technologies by 17.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,916 shares of the technology infrastructure company’s stock worth $831,000 after buying an additional 2,076 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Akamai Technologies during the first quarter worth $230,000. Comerica Securities Inc. acquired a new stake in shares of Akamai Technologies during the first quarter worth $321,000. Finally, National Pension Service raised its stake in shares of Akamai Technologies by 9.8% in the second quarter. National Pension Service now owns 192,319 shares of the technology infrastructure company’s stock worth $9,662,000 after buying an additional 17,092 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Akamai Technologies, Inc. (AKAM) opened at 45.71 on Wednesday. The firm has a 50-day moving average of $48.14 and a 200-day moving average of $54.46. Akamai Technologies, Inc. has a 52-week low of $44.65 and a 52-week high of $71.64. The stock has a market capitalization of $7.84 billion, a PE ratio of 26.11 and a beta of 0.66.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The business had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. During the same period last year, the firm earned $0.64 earnings per share. Akamai Technologies’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Akamai Technologies, Inc. will post $2.52 EPS for the current year.

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A number of equities research analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a report on Wednesday, May 3rd. BidaskClub lowered Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Instinet started coverage on Akamai Technologies in a research note on Thursday, May 25th. They set a “neutral” rating and a $47.62 price target on the stock. Stifel Nicolaus reissued a “hold” rating and set a $56.00 price target (down previously from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Finally, JMP Securities reissued an “outperform” rating and set a $75.00 price target (down previously from $77.00) on shares of Akamai Technologies in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.76.

In other Akamai Technologies news, CEO F Thomson Leighton purchased 21,554 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $46.91 per share, with a total value of $1,011,098.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total transaction of $886,042.17. Following the transaction, the director now directly owns 64,147 shares in the company, valued at $3,177,200.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 66,768 shares of company stock worth $3,244,877. 3.20% of the stock is owned by insiders.

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 is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

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

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