Chevy Chase Trust Holdings Inc. reduced its stake in Akamai Technologies Inc. (NASDAQ:AKAM) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,302 shares of the technology infrastructure company’s stock after selling 4,198 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.08% of Akamai Technologies worth $7,753,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Akamai Technologies during the second quarter worth $73,367,000. Capital World Investors increased its stake 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 in the last quarter. William Blair Investment Management LLC increased its stake 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 in the last quarter. PGGM Investments acquired a new stake in shares of Akamai Technologies during the second quarter worth $30,442,000. Finally, Obermeyer Wood Investment Counsel Lllp acquired a new stake in shares of Akamai Technologies during the second quarter worth $26,058,000. 90.41% of the stock is owned by institutional investors.

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

Akamai Technologies Inc. (NASDAQ:AKAM) traded up 2.37% during mid-day trading on Tuesday, hitting $67.74. 1,252,429 shares of the company traded hands. The company’s 50-day moving average is $63.16 and its 200-day moving average is $55.98. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of 38.47 and a beta of 0.94. Akamai Technologies Inc. has a one year low of $39.43 and a one year high of $71.04.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, October 25th. The technology infrastructure company reported $0.68 earnings per share for the quarter, topping the 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 had revenue of $584.10 million for the quarter, compared to analyst estimates of $571.92 million. During the same quarter last year, the firm earned $0.62 EPS. Akamai Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that Akamai Technologies Inc. will post $2.66 EPS for the current year.

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A number of research analysts have issued reports on AKAM shares. Zacks Investment Research lowered shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Wells Fargo & Co. raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $59.20 to $51.41 in a research note on Friday, August 12th. Mizuho reissued a “buy” rating and set a $65.00 target price on shares of Akamai Technologies in a research note on Monday, October 3rd. Pacific Crest reissued a “hold” rating on shares of Akamai Technologies in a research note on Tuesday, August 2nd. Finally, Piper Jaffray Cos. reissued a “buy” rating and set a $64.00 target price on shares of Akamai Technologies in a research note on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Akamai Technologies has an average rating of “Hold” and an average target price of $62.97.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 7,545 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $55.29, for a total value of $417,163.05. Following the transaction, the insider now owns 41,381 shares of the company’s stock, valued at $2,287,955.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO F Thomson Leighton purchased 19,468 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was bought at an average cost of $51.36 per share, for a total transaction of $999,876.48. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company’s stock.

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’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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