Teacher Retirement System of Texas Lowers Position in Akamai Technologies, Inc. (AKAM)

Teacher Retirement System of Texas decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 91,330 shares of the technology infrastructure company’s stock after selling 26 shares during the period. Teacher Retirement System of Texas’ holdings in Akamai Technologies were worth $4,549,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AKAM. Creative Planning raised its position in Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock valued at $160,000 after buying an additional 572 shares during the period. Gulf International Bank UK Ltd raised its position in Akamai Technologies by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 53,958 shares of the technology infrastructure company’s stock valued at $3,221,000 after buying an additional 500 shares during the period. National Pension Service raised its position in Akamai Technologies by 1.6% in the first quarter. National Pension Service now owns 175,227 shares of the technology infrastructure company’s stock valued at $10,606,000 after buying an additional 2,790 shares during the period. Bank of Montreal Can raised its position in 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 during the period. Finally, Capstone Asset Management Co. raised its position in Akamai Technologies by 1.4% in the first quarter. Capstone Asset Management Co. now owns 22,639 shares of the technology infrastructure company’s stock valued at $1,352,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 86.44% of the company’s stock.

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

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $604.51 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. Akamai Technologies’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts predict that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.

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AKAM has been the subject of several research reports. Morgan Stanley lowered shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $68.00 to $54.00 in a research report on Thursday, April 27th. B. Riley reiterated a “buy” rating and set a $66.00 price objective on shares of Akamai Technologies in a research report on Wednesday, May 3rd. SunTrust Banks, Inc. lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $54.00 to $82.00 in a research report on Wednesday, May 3rd. Wells Fargo & Company lowered shares of Akamai Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. Finally, DA Davidson lowered shares of 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. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.76.

In other Akamai Technologies news, CEO F Thomson Leighton purchased 19,817 shares of Akamai Technologies stock in a transaction dated Friday, July 14th. The shares were acquired at an average price of $50.45 per share, with a total value of $999,767.65. Following the completion of the transaction, the chief executive officer now owns 205,861 shares of the company’s stock, valued at $10,385,687.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Sagan sold 17,889 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders acquired 87,964 shares of company stock worth $4,244,692 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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 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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