Louisiana State Employees Retirement System boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,700 shares of the technology infrastructure company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Akamai Technologies were worth $533,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of Akamai Technologies by 54.8% in the fourth quarter. Teachers Advisors LLC now owns 282,074 shares of the technology infrastructure company’s stock valued at $18,809,000 after buying an additional 99,878 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Akamai Technologies by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 149,802 shares of the technology infrastructure company’s stock valued at $8,943,000 after buying an additional 4,490 shares in the last quarter. Creative Planning raised its stake in shares of Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock valued at $160,000 after buying an additional 572 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Akamai Technologies by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 53,958 shares of the technology infrastructure company’s stock valued at $3,221,000 after buying an additional 500 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Akamai Technologies by 1.6% in the first quarter. National Pension Service now owns 175,227 shares of the technology infrastructure company’s stock valued at $10,606,000 after buying an additional 2,790 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) traded down 1.81% on Thursday, reaching $46.54. 578,149 shares of the company’s stock were exchanged. Akamai Technologies, Inc. has a 12 month low of $45.41 and a 12 month high of $71.64. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 26.58 and a beta of 0.66. The firm’s 50-day moving average price is $49.61 and its 200 day moving average price is $56.33.

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

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AKAM has been the subject of several recent research reports. Morgan Stanley lowered Akamai Technologies from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $68.00 to $54.00 in a report on Thursday, April 27th. B. Riley reiterated a “buy” rating and set a $66.00 price objective on shares of Akamai Technologies in a report on Wednesday, May 3rd. SunTrust Banks, Inc. lowered Akamai Technologies from a “buy” rating to a “hold” rating and increased their price objective for the stock from $54.00 to $82.00 in a report on Wednesday, May 3rd. Wells Fargo & Company lowered Akamai Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 3rd. Finally, DA Davidson lowered Akamai Technologies from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a report on Wednesday, May 3rd. Three 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 company presently has a consensus rating of “Hold” and an average target price of $62.76.

In other Akamai Technologies news, Director Paul Sagan sold 17,889 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total transaction of $886,042.17. Following the transaction, the director now owns 64,147 shares in the company, valued at approximately $3,177,200.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were acquired at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the transaction, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 66,410 shares of company stock worth $3,233,594. Company insiders own 3.20% of the company’s stock.

Akamai Technologies Company Profile

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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