California State Teachers Retirement System reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,286 shares of the technology infrastructure company’s stock after selling 22,217 shares during the quarter. California State Teachers Retirement System owned approximately 0.19% of Akamai Technologies worth $16,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of AKAM. Vanguard Group Inc. boosted its stake in shares of Akamai Technologies by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock worth $824,981,000 after purchasing an additional 424,152 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Akamai Technologies by 13.1% during the 1st quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after purchasing an additional 717,811 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Akamai Technologies by 41.8% during the 2nd quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after purchasing an additional 1,428,886 shares during the last quarter. Fairpointe Capital LLC boosted its stake in shares of Akamai Technologies by 44.0% during the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after purchasing an additional 981,069 shares during the last quarter. Finally, Blue Harbour Group L.P. boosted its stake in shares of Akamai Technologies by 15.4% during the 1st quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after purchasing an additional 381,300 shares during the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.

In related news, CEO F Thomson Leighton acquired 19,670 shares of the company’s stock in a transaction on Monday, October 16th. The stock was purchased at an average cost of $50.83 per share, for a total transaction of $999,826.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederic V. Salerno acquired 5,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were bought at an average price of $46.83 per share, with a total value of $234,150.00. Following the completion of the purchase, 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 purchased 46,224 shares of company stock valued at $2,245,074 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at 51.00 on Thursday. The firm’s 50-day moving average is $48.49 and its 200 day moving average is $50.33. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $71.64. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 29.13 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $608.90 million during 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%. Akamai Technologies’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Equities analysts expect that Akamai Technologies, Inc. will post $2.51 EPS for the current fiscal year.

Several research firms have issued reports on AKAM. Zacks Investment Research cut shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research note on Monday. DA Davidson set a $57.00 price target on shares of Akamai Technologies and gave the stock a “hold” rating in a research note on Thursday, October 12th. B. Riley reaffirmed a “buy” rating and set a $66.00 price target on shares of Akamai Technologies in a research note on Thursday, October 12th. Wells Fargo & Company set a $57.00 price target on shares of Akamai Technologies and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Finally, Instinet reaffirmed a “neutral” rating and set a $47.00 price target on shares of Akamai Technologies in a research note on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Akamai Technologies currently has an average rating of “Hold” and an average price target of $59.64.

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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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