Public Employees Retirement Association of Colorado reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 31,885 shares of the technology infrastructure company’s stock after selling 1,721 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Akamai Technologies were worth $1,553,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Akamai Technologies by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock worth $824,981,000 after buying an additional 424,152 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Akamai Technologies by 2.3% in the 3rd quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock worth $241,610,000 after buying an additional 109,826 shares during the last quarter. Fairpointe Capital LLC boosted its stake in shares of Akamai Technologies by 44.0% in the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after buying an additional 981,069 shares during the last quarter. King Luther Capital Management Corp boosted its stake in shares of Akamai Technologies by 13.2% in the 2nd quarter. King Luther Capital Management Corp now owns 2,320,833 shares of the technology infrastructure company’s stock worth $115,601,000 after buying an additional 269,793 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Akamai Technologies by 83.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock worth $95,080,000 after buying an additional 867,795 shares during the last quarter. 84.41% of the stock is owned by hedge funds and other institutional investors.

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In other news, SVP Aaron Ahola sold 2,893 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the transaction, the senior vice president now owns 8,046 shares of the company’s stock, valued at $421,932.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rick M. Mcconnell sold 3,966 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $54.19, for a total transaction of $214,917.54. Following the completion of the transaction, the insider now directly owns 39,753 shares in the company, valued at approximately $2,154,215.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,438 shares of company stock worth $1,463,695. Insiders own 3.20% of the company’s stock.

AKAM has been the topic of a number of research analyst reports. Wells Fargo & Company set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research note on Tuesday, October 10th. B. Riley restated a “buy” rating and issued a $66.00 target price on shares of Akamai Technologies in a research note on Thursday, October 12th. Credit Suisse Group boosted their target price on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies restated a “buy” rating and issued a $57.00 target price on shares of Akamai Technologies in a research note on Wednesday, July 26th. Finally, Nomura boosted their target price on Akamai Technologies from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. Akamai Technologies has a consensus rating of “Hold” and a consensus target price of $60.73.

Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $54.26 on Friday. The firm has a market cap of $9,108.82, a price-to-earnings ratio of 28.05, a PEG ratio of 2.14 and a beta of 0.66. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $71.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.10.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. research analysts expect that Akamai Technologies, Inc. will post 1.88 EPS for the current year.

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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