Comerica Bank lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 60,366 shares of the technology infrastructure company’s stock after selling 20,645 shares during the period. Comerica Bank’s holdings in Akamai Technologies were worth $3,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Denver Investment Advisors LLC boosted its position in shares of Akamai Technologies by 70.6% in the second quarter. Denver Investment Advisors LLC now owns 5,850 shares of the technology infrastructure company’s stock worth $291,000 after buying an additional 2,420 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Akamai Technologies by 216.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 229,036 shares of the technology infrastructure company’s stock worth $11,408,000 after buying an additional 156,617 shares during the last quarter. Signature Financial Management Inc. boosted its position in shares of Akamai Technologies by 18.4% in the second quarter. Signature Financial Management Inc. now owns 5,640 shares of the technology infrastructure company’s stock worth $281,000 after buying an additional 875 shares during the last quarter. Wedbush Securities Inc. bought a new position in shares of Akamai Technologies during the second quarter worth approximately $555,000. Finally, Traynor Capital Management Inc. bought a new position in shares of Akamai Technologies during the second quarter worth approximately $329,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Akamai Technologies, Inc. (NASDAQ AKAM) opened at 47.08 on Friday. The company has a 50 day moving average price of $47.65 and a 200-day moving average price of $53.79. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $71.64. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 26.89 and a beta of 0.64.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm 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 company’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. On average, analysts forecast that Akamai Technologies, Inc. will post $2.52 EPS for the current fiscal year.

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A number of research analysts recently commented on the company. B. Riley restated a “buy” rating and issued a $66.00 price target on shares of Akamai Technologies in a research report on Monday, May 8th. Robert W. Baird restated a “hold” rating and issued a $52.00 price target on shares of Akamai Technologies in a research report on Friday. Instinet assumed coverage on Akamai Technologies in a research report on Thursday, May 25th. They issued a “neutral” rating and a $47.62 price target on the stock. Nomura assumed coverage on Akamai Technologies in a research report on Thursday, May 25th. They issued a “neutral” rating and a $50.00 price target on the stock. Finally, BidaskClub cut Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Akamai Technologies has a consensus rating of “Hold” and a consensus target price of $62.62.

In related news, CEO F Thomson Leighton bought 20,397 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average cost of $49.02 per share, for a total transaction of $999,860.94. Following the acquisition, the chief executive officer now directly owns 247,454 shares of the company’s stock, valued at approximately $12,130,195.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Sagan sold 17,889 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the sale, the director now owns 64,147 shares of the company’s stock, valued at $3,177,200.91. The disclosure for this sale can be found here. Insiders have bought a total of 66,768 shares of company stock worth $3,244,877 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.

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

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