Wedbush Securities Inc. purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the second quarter, Holdings Channel reports. The firm purchased 11,137 shares of the technology infrastructure company’s stock, valued at approximately $555,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. DnB Asset Management AS raised its position in shares of Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock valued at $776,000 after buying an additional 1,600 shares during the last quarter. Bank of Montreal Can raised its position in shares of Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock valued at $7,561,000 after buying an additional 58,293 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Akamai Technologies by 17.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,916 shares of the technology infrastructure company’s stock valued at $831,000 after buying an additional 2,076 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Akamai Technologies during the first quarter valued at about $230,000. Finally, Comerica Securities Inc. acquired a new position in shares of Akamai Technologies during the first quarter valued at about $321,000. Institutional investors own 86.44% of the company’s stock.

Akamai Technologies, Inc. (NASDAQ AKAM) opened at 46.34 on Wednesday. Akamai Technologies, Inc. has a 12-month low of $45.41 and a 12-month high of $71.64. The stock has a market cap of $7.94 billion, a P/E ratio of 26.46 and a beta of 0.66. The company has a 50 day moving average of $49.17 and a 200-day moving average of $55.62.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Zacks’ 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%. Akamai Technologies’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Equities analysts forecast 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 analyst reports. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $68.00 to $54.00 in a research report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $46.00 price objective (down from $52.00) on shares of Akamai Technologies in a research report on Friday, June 30th. Guggenheim downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $60.00 in a research report on Wednesday, May 3rd. Robert W. Baird downgraded shares of Akamai Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $55.00 in a research report on Friday, May 5th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $73.00 price objective (down from $80.00) on shares of Akamai Technologies in a research 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 given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.76.

In other Akamai Technologies news, Director Paul Sagan sold 17,889 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was 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 in the company, valued at approximately $3,177,200.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton acquired 21,196 shares of the stock in a transaction on Wednesday, May 31st. The stock was bought at an average price of $47.17 per share, for a total transaction of $999,815.32. Following the transaction, the chief executive officer now owns 227,057 shares in the company, valued at approximately $10,710,278.69. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 66,410 shares of company stock worth $3,233,594. 3.20% of the stock is 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.

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

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