Stifel Financial Corp decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 68.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,172 shares of the technology infrastructure company’s stock after selling 307,109 shares during the quarter. Stifel Financial Corp owned approximately 0.08% of Akamai Technologies worth $6,957,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKAM. Pacer Advisors Inc. boosted its holdings in shares of Akamai Technologies by 4.2% during the 1st quarter. Pacer Advisors Inc. now owns 5,189 shares of the technology infrastructure company’s stock valued at $310,000 after acquiring an additional 208 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Akamai Technologies by 4.4% during the 1st quarter. Nordea Investment Management AB now owns 19,801 shares of the technology infrastructure company’s stock valued at $1,182,000 after acquiring an additional 838 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter valued at $304,000. Cadence Capital Management LLC boosted its holdings in shares of Akamai Technologies by 37.6% during the 1st quarter. Cadence Capital Management LLC now owns 4,703 shares of the technology infrastructure company’s stock valued at $281,000 after acquiring an additional 1,286 shares in the last quarter. Finally, United Services Automobile Association boosted its holdings in shares of Akamai Technologies by 65.6% during the 1st quarter. United Services Automobile Association now owns 161,271 shares of the technology infrastructure company’s stock valued at $9,628,000 after acquiring an additional 63,899 shares in the last quarter. 84.49% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on AKAM shares. B. Riley reissued a “buy” rating and set a $66.00 price objective on shares of Akamai Technologies in a report on Sunday, June 11th. BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $46.00 price objective (down previously from $52.00) on shares of Akamai Technologies in a report on Friday, June 30th. Deutsche Bank AG reissued a “buy” rating and set a $70.00 price objective (down previously from $73.00) on shares of Akamai Technologies in a report on Monday, July 17th. Finally, Cowen and Company reissued a “hold” rating and set a $61.00 price objective on shares of Akamai Technologies in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $60.28.

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Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 50.78 on Friday. The stock has a 50 day moving average price of $47.11 and a 200 day moving average price of $51.21. The firm has a market capitalization of $8.70 billion, a P/E ratio of 29.00 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $44.65 and a 52 week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company had revenue of $608.90 million during the quarter, compared to the consensus estimate of $604.51 million. During the same period in the prior year, the firm earned $0.64 earnings per share. Akamai Technologies’s revenue was up 6.4% on a year-over-year basis. Analysts forecast that Akamai Technologies, Inc. will post $2.52 EPS for the current year.

In related news, CEO F Thomson Leighton purchased 21,554 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $46.91 per share, with a total value of $1,011,098.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Wheaton sold 10,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. Over the last three months, insiders purchased 46,371 shares of company stock valued at $2,245,016. 3.20% of the stock is owned by insiders.

Akamai Technologies 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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