Montag & Caldwell LLC cut its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.1% during the second quarter, Holdings Channel reports. The fund owned 5,485 shares of the technology infrastructure company’s stock after selling 1,560 shares during the period. Montag & Caldwell LLC’s holdings in Akamai Technologies were worth $273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Trust Advisors LP increased its position in shares of Akamai Technologies by 41.8% in the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after buying an additional 1,428,886 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Akamai Technologies by 49.0% in the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock worth $151,931,000 after buying an additional 836,384 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after buying an additional 780,019 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after buying an additional 717,811 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Akamai Technologies by 107.0% in the first quarter. FIL Ltd now owns 1,137,061 shares of the technology infrastructure company’s stock worth $67,883,000 after buying an additional 587,754 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at 46.37 on Friday. Akamai Technologies, Inc. has a 52 week low of $45.41 and a 52 week high of $71.64. The company has a 50-day moving average price of $49.43 and a 200 day moving average price of $56.10. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 26.48 and a beta of 0.66.

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

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AKAM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Akamai Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, May 8th. BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Stifel Nicolaus reissued a “hold” rating and issued a $58.00 price objective (down from $62.00) on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Morgan Stanley downgraded Akamai Technologies from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $68.00 to $54.00 in a research note on Thursday, April 27th. Finally, TheStreet downgraded Akamai Technologies from a “b-” rating to a “c” rating in a research note on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.76.

In related news, CEO F Thomson Leighton purchased 20,397 shares of Akamai Technologies stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average price of $49.02 per share, with a total value of $999,860.94. Following the completion of the transaction, the chief executive officer now directly owns 247,454 shares of the company’s stock, valued at approximately $12,130,195.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederic V. Salerno purchased 5,000 shares of Akamai Technologies stock in a transaction that occurred on Thursday, July 27th. The shares were bought at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the transaction, the director now directly owns 62,192 shares of the company’s stock, valued at $2,912,451.36. The disclosure for this purchase can be found here. Insiders have purchased 66,410 shares of company stock worth $3,233,594 in the last three months. 3.20% of the stock is currently owned by company insiders.

About Akamai Technologies

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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