Twin Capital Management Inc. decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 12.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,829 shares of the technology infrastructure company’s stock after selling 2,706 shares during the period. Twin Capital Management Inc.’s holdings in Akamai Technologies were worth $917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKAM. Swiss National Bank increased 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 worth $31,446,000 after buying an additional 17,300 shares during the period. FIL Ltd increased 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 worth $92,609,000 after buying an additional 722,170 shares during the period. Globeflex Capital L P increased 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 worth $1,634,000 after buying an additional 14,500 shares during the period. Pinnacle Associates Ltd. increased 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 worth $1,957,000 after buying an additional 4,340 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased 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 worth $25,328,000 after buying an additional 29,082 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at $55.79 on Friday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $9,435.28, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 2.21 and a beta of 0.67. Akamai Technologies, Inc. has a 12-month low of $44.65 and a 12-month high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. equities research analysts anticipate that Akamai Technologies, Inc. will post 1.89 earnings per share for the current year.

In other Akamai Technologies news, EVP Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $53.11, for a total transaction of $212,440.00. Following the sale, the executive vice president now directly owns 22,364 shares of the company’s stock, valued at approximately $1,187,752.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO F Thomson Leighton acquired 19,670 shares of the business’s stock in a transaction on Monday, October 16th. The shares were purchased at an average cost of $50.83 per share, for a total transaction of $999,826.10. Following the completion of the transaction, the chief executive officer now owns 226,950 shares in the company, valued at approximately $11,535,868.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 31,181 shares of company stock worth $1,614,560. Insiders own 3.20% of the company’s stock.

Several research firms have recently commented on AKAM. Vetr downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a report on Wednesday, September 13th. MKM Partners raised their target price on Akamai Technologies to $65.00 and gave the stock a “buy” rating in a research note on Friday. Piper Jaffray Companies reissued a “buy” rating and issued a $60.00 target price on shares of Akamai Technologies in a research note on Wednesday, October 25th. Wells Fargo & Company reissued a “market perform” rating and issued a $62.00 target price (up from $57.00) on shares of Akamai Technologies in a research note on Wednesday, October 25th. Finally, Cowen reissued a “hold” rating and issued a $59.00 target price on shares of Akamai Technologies in a research note on Friday, October 27th. 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 company. Akamai Technologies presently has an average rating of “Hold” and a consensus price target of $60.64.

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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.

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

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