CIBC Asset Management Inc boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 26,065 shares of the technology infrastructure company’s stock after buying an additional 650 shares during the period. CIBC Asset Management Inc’s holdings in Akamai Technologies were worth $1,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Akamai Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock worth $963,462,000 after buying an additional 476,166 shares in 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 in the last quarter. First Trust Advisors LP increased its position in shares of Akamai Technologies by 19.6% in the first quarter. First Trust Advisors LP now owns 3,420,437 shares of the technology infrastructure company’s stock worth $204,200,000 after buying an additional 560,932 shares in 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 in the last quarter. Finally, Blue Harbour Group L.P. increased its position in shares of Akamai Technologies by 15.4% in the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after buying an additional 381,300 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Shares of Akamai Technologies, Inc. (AKAM) opened at 46.31 on Friday. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 26.45 and a beta of 0.66. Akamai Technologies, Inc. has a 12 month low of $45.41 and a 12 month high of $71.64. The company has a 50-day moving average price of $49.53 and a 200-day moving average price of $56.26.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $608.90 million for the quarter, compared to the consensus estimate 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 business posted $0.64 EPS. On average, analysts expect that Akamai Technologies, Inc. will post $2.52 EPS for the current fiscal year.

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A number of equities analysts have commented on AKAM shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $57.00 target price on shares of Akamai Technologies in a report on Wednesday, July 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $58.00 target price (down from $65.00) on shares of Akamai Technologies in a report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $58.00 target price (down from $62.00) on shares of Akamai Technologies in a report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $46.00 target price (down from $52.00) on shares of Akamai Technologies in a report on Friday, June 30th. Finally, B. Riley reiterated a “buy” rating and issued a $66.00 target price on shares of Akamai Technologies in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $62.76.

In other news, Director Frederic V. Salerno purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were purchased at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the purchase, the director now directly owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 19,817 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were purchased at an average price of $50.45 per share, for a total transaction of $999,767.65. Following the purchase, the chief executive officer now directly owns 205,861 shares in the company, valued at $10,385,687.45. The disclosure for this purchase can be found here. Insiders have purchased a total of 66,410 shares of company stock worth $3,233,594 in the last 90 days. 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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