Prudential Financial Inc. reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,036 shares of the technology infrastructure company’s stock after selling 6,370 shares during the quarter. Prudential Financial Inc. owned approximately 0.15% of Akamai Technologies worth $12,182,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank raised its holdings in shares of Akamai Technologies by 2.8% in the second quarter. Swiss National Bank now owns 631,319 shares of the technology infrastructure company’s stock valued at $31,446,000 after acquiring an additional 17,300 shares in the last quarter. FIL Ltd raised its holdings in shares of Akamai Technologies by 63.5% in the second quarter. FIL Ltd now owns 1,859,231 shares of the technology infrastructure company’s stock valued at $92,609,000 after acquiring an additional 722,170 shares in the last quarter. Globeflex Capital L P raised its holdings in shares of Akamai Technologies by 79.2% in the second quarter. Globeflex Capital L P now owns 32,800 shares of the technology infrastructure company’s stock valued at $1,634,000 after acquiring an additional 14,500 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Akamai Technologies by 12.4% in the second quarter. Pinnacle Associates Ltd. now owns 39,290 shares of the technology infrastructure company’s stock valued at $1,957,000 after acquiring an additional 4,340 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Akamai Technologies by 6.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 508,495 shares of the technology infrastructure company’s stock valued at $25,328,000 after acquiring an additional 29,082 shares in the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at $55.68 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a market capitalization of $9,367.62, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. Akamai Technologies’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. equities research analysts predict that Akamai Technologies, Inc. will post 1.88 EPS for the current fiscal year.

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Several analysts recently weighed in on AKAM shares. Piper Jaffray Companies restated a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a report on Wednesday, July 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $56.00 target price (down from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Oppenheimer Holdings, Inc. reduced their target price on shares of Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, July 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $54.00 target price (down from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Finally, Cowen and Company reiterated a “hold” rating and issued a $60.00 target price on shares of Akamai Technologies in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.73.

In other news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rick M. Mcconnell sold 7,579 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total transaction of $386,529.00. The disclosure for this sale can be found here. Insiders sold a total of 31,181 shares of company stock worth $1,614,560 over the last three months. 3.20% of the stock is owned by company 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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