Franklin Street Advisors Inc. NC lowered its position in shares of Akamai Technologies Inc. (NASDAQ:AKAM) by 28.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,547 shares of the technology infrastructure company’s stock after selling 48,064 shares during the period. Akamai Technologies makes up 1.1% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 26th largest position. Franklin Street Advisors Inc. NC owned 0.07% of Akamai Technologies worth $6,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Akamai Technologies by 1.0% in the second quarter. Vanguard Group Inc. now owns 15,107,014 shares of the technology infrastructure company’s stock worth $844,935,000 after buying an additional 155,597 shares during the period. Capital World Investors increased its position in shares of Akamai Technologies by 8.1% in the second quarter. Capital World Investors now owns 15,028,695 shares of the technology infrastructure company’s stock worth $840,555,000 after buying an additional 1,126,696 shares during the period. Brown Advisory Inc. increased its position in shares of Akamai Technologies by 1.7% in the second quarter. Brown Advisory Inc. now owns 6,038,374 shares of the technology infrastructure company’s stock worth $337,726,000 after buying an additional 101,193 shares during the period. William Blair Investment Management LLC increased its position in shares of Akamai Technologies by 19.7% in the second quarter. William Blair Investment Management LLC now owns 4,428,561 shares of the technology infrastructure company’s stock worth $247,689,000 after buying an additional 728,294 shares during the period. Finally, Coatue Management LLC increased its position in shares of Akamai Technologies by 13.6% in the second quarter. Coatue Management LLC now owns 3,354,436 shares of the technology infrastructure company’s stock worth $187,614,000 after buying an additional 402,297 shares during the period. Institutional investors own 90.14% of the company’s stock.

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

Shares of Akamai Technologies Inc. (NASDAQ:AKAM) traded up 0.66% during midday trading on Wednesday, reaching $65.90. 2,153,610 shares of the company were exchanged. The firm has a market capitalization of $11.42 billion, a P/E ratio of 37.42 and a beta of 0.94. The firm has a 50-day moving average of $60.08 and a 200 day moving average of $55.01. Akamai Technologies Inc. has a 52 week low of $39.43 and a 52 week high of $71.04.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, October 25th. The technology infrastructure company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.07. Akamai Technologies had a net margin of 13.59% and a return on equity of 11.61%. The business earned $584.10 million during the quarter, compared to analyst estimates of $571.92 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that Akamai Technologies Inc. will post $2.66 EPS for the current year.

A number of research analysts recently weighed in on AKAM shares. Zacks Investment Research downgraded shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. SunTrust Banks Inc. began coverage on shares of Akamai Technologies in a research report on Thursday, July 21st. They issued a “buy” rating and a $66.00 price target on the stock. Cowen and Company reiterated a “market perform” rating on shares of Akamai Technologies in a research report on Thursday, October 27th. B. Riley reiterated a “buy” rating and issued a $75.00 price target on shares of Akamai Technologies in a research report on Thursday, October 27th. Finally, Stifel Nicolaus increased their price target on shares of Akamai Technologies from $58.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $62.97.

In other news, EVP Robert Blumofe sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $69.39, for a total transaction of $138,780.00. Following the completion of the sale, the executive vice president now owns 20,415 shares of the company’s stock, valued at $1,416,596.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO F Thomson Leighton bought 15,245 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were acquired at an average cost of $65.58 per share, with a total value of $999,767.10. The disclosure for this purchase can be found here. Insiders own 2.70% 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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

5 Day Chart for NASDAQ:AKAM

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