Ipswich Investment Management Co. Inc. reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 45.5% during the second quarter, Holdings Channel reports. The fund owned 24,064 shares of the technology infrastructure company’s stock after selling 20,115 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Akamai Technologies were worth $1,199,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AKAM. Vanguard Group Inc. raised its stake in Akamai Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock worth $963,462,000 after buying an additional 476,166 shares during the last quarter. Clearbridge Investments LLC raised its stake in Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after buying an additional 717,811 shares during the last quarter. First Trust Advisors LP raised its stake in Akamai Technologies by 19.6% in the first quarter. First Trust Advisors LP now owns 3,420,437 shares of the technology infrastructure company’s stock worth $204,200,000 after buying an additional 560,932 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after buying an additional 780,019 shares during the last quarter. Finally, Blue Harbour Group L.P. raised its stake in Akamai Technologies by 15.4% in the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after buying an additional 381,300 shares during the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) traded up 0.25% on Monday, hitting $52.26. The stock had a trading volume of 210,273 shares. The company has a market cap of $9.03 billion, a P/E ratio of 28.56 and a beta of 0.67. The company has a 50-day moving average of $49.86 and a 200-day moving average of $58.38. Akamai Technologies, Inc. has a 52-week low of $46.81 and a 52-week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $609.24 million during the quarter, compared to analyst estimates of $604.94 million. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. On average, equities analysts anticipate that Akamai Technologies, Inc. will post $2.55 EPS for the current fiscal year.

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A number of analysts recently issued reports on AKAM shares. B. Riley reiterated a “buy” rating and set a $71.00 price objective on shares of Akamai Technologies in a research note on Friday, March 31st. Royal Bank Of Canada reiterated a “hold” rating and set a $65.00 price objective on shares of Akamai Technologies in a research note on Friday, March 31st. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price objective (down from $65.00) on shares of Akamai Technologies in a research note on Sunday, April 2nd. William Blair reiterated an “outperform” rating on shares of Akamai Technologies in a research note on Monday, April 3rd. Finally, MKM Partners reiterated a “buy” rating and set a $79.00 price objective on shares of Akamai Technologies in a research note on Monday, April 3rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies currently has an average rating of “Hold” and a consensus price target of $64.57.

In related news, Director Paul Sagan sold 17,889 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the completion of the transaction, the director now owns 64,147 shares of the company’s stock, valued at $3,177,200.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton acquired 20,397 shares of Akamai Technologies stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average cost of $49.02 per share, with a total value of $999,860.94. Following the purchase, the chief executive officer now directly owns 247,454 shares of the company’s stock, valued at $12,130,195.08. The disclosure for this purchase can be found here. Insiders purchased 61,410 shares of company stock valued at $2,999,444 in the last quarter. 3.20% of the stock is owned by company 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.

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

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