New Mexico Educational Retirement Board reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,048 shares of the technology infrastructure company’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Akamai Technologies were worth $757,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. 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 in 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 in 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 in 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. 86.44% of the stock is owned by institutional investors.

Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 46.29 on Thursday. The firm’s 50-day moving average price is $49.06 and its 200 day moving average price is $55.55. Akamai Technologies, Inc. has a 52-week low of $45.41 and a 52-week high of $71.64. The company has a market cap of $7.94 billion, a PE ratio of 26.44 and a beta of 0.66.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The company had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Akamai Technologies, Inc. will post $2.52 EPS for the current fiscal year.

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Several equities analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Guggenheim lowered Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $70.00 to $60.00 in a research report on Wednesday, May 3rd. SunTrust Banks, Inc. lowered Akamai Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $54.00 to $82.00 in a research report on Wednesday, May 3rd. DA Davidson lowered Akamai Technologies from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research report on Wednesday, May 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $58.00 price objective (down from $65.00) on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.76.

In related news, Director Paul Sagan sold 17,889 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total transaction of $886,042.17. Following the sale, the director now directly owns 64,147 shares in the company, valued at approximately $3,177,200.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO F Thomson Leighton acquired 21,554 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 87,964 shares of company stock worth $4,244,692. 3.20% of the stock is currently owned by corporate 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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