Garrison Financial Corp cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,086 shares of the technology infrastructure company’s stock after selling 75 shares during the period. Garrison Financial Corp’s holdings in Akamai Technologies were worth $1,598,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP increased its stake in 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 valued at $241,545,000 after buying an additional 1,428,886 shares during the period. AQR Capital Management LLC increased its stake in 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 valued at $151,931,000 after buying an additional 836,384 shares during the period. Ameriprise Financial Inc. increased its stake in 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 valued at $203,324,000 after buying an additional 780,019 shares during the period. Clearbridge Investments LLC increased its stake in 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 valued at $368,794,000 after buying an additional 717,811 shares during the period. Finally, FIL Ltd increased its stake in Akamai Technologies by 107.0% in the first quarter. FIL Ltd now owns 1,137,061 shares of the technology infrastructure company’s stock valued at $67,883,000 after buying an additional 587,754 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies, Inc. (AKAM) opened at 46.37 on Friday. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 26.48 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 stock’s 50 day moving average is $49.43 and its 200-day moving average is $56.10.

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

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

In other news, CEO F Thomson Leighton bought 20,397 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average price of $49.02 per share, with a total value of $999,860.94. Following the completion of the purchase, 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 SEC, which is available at this link. Also, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were purchased at an average cost of $46.83 per share, with a total value of $234,150.00. Following 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. In the last three months, insiders bought 66,410 shares of company stock valued at $3,233,594. Company 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.

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

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