State Board of Administration of Florida Retirement System lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,153 shares of the technology infrastructure company’s stock after selling 88 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.15% of Akamai Technologies worth $13,108,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Akamai Technologies by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 479,413 shares of the technology infrastructure company’s stock valued at $28,621,000 after buying an additional 3,101 shares in the last quarter. State Treasurer State of Michigan raised its position in shares of Akamai Technologies by 0.4% in the first quarter. State Treasurer State of Michigan now owns 56,923 shares of the technology infrastructure company’s stock valued at $3,398,000 after buying an additional 200 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Akamai Technologies during the first quarter valued at $4,478,000. Advisory Services Network LLC bought a new position in shares of Akamai Technologies during the first quarter valued at $111,000. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Akamai Technologies by 6.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,670 shares of the technology infrastructure company’s stock valued at $875,000 after buying an additional 929 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Shares of Akamai Technologies, Inc. (AKAM) opened at 45.14 on Tuesday. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.64. The firm has a 50-day moving average of $48.14 and a 200-day moving average of $54.46. The company has a market capitalization of $7.74 billion, a P/E ratio of 25.78 and a beta of 0.66.

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 Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. Akamai Technologies’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. On average, equities analysts predict that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.

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Several brokerages have recently weighed in on AKAM. 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. Guggenheim lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $60.00 in a report on Wednesday, May 3rd. SunTrust Banks, Inc. lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and upped their price objective for the company from $54.00 to $82.00 in a report on Wednesday, May 3rd. DA Davidson lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Wednesday, May 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $58.00 price objective (down previously from $65.00) on shares of Akamai Technologies in a report on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $62.76.

In other Akamai Technologies news, Director Paul Sagan sold 17,889 shares of the firm’s 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 completion of the transaction, the director now directly owns 64,147 shares of the company’s stock, valued at approximately $3,177,200.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton purchased 20,397 shares of Akamai Technologies stock in a transaction on Thursday, June 15th. The shares were acquired at an average cost of $49.02 per share, with a total value of $999,860.94. Following the completion of the transaction, the chief executive officer now directly owns 247,454 shares in the company, valued at approximately $12,130,195.08. The disclosure for this purchase can be found here. Insiders purchased a total of 87,964 shares of company stock valued at $4,244,692 over the last ninety days. 3.20% of the stock is currently owned by insiders.

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.

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

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