World Asset Management Inc reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,432 shares of the technology infrastructure company’s stock after selling 3,526 shares during the period. World Asset Management Inc’s holdings in Akamai Technologies were worth $769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Akamai Technologies during the first quarter valued at approximately $111,000. Whittier Trust Co. raised its position in shares of Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock valued at $134,000 after buying an additional 501 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after buying an additional 1,032 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Akamai Technologies during the first quarter valued at approximately $145,000. Finally, Creative Planning raised its position in shares of 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 last quarter. Institutional investors own 87.19% of the company’s stock.

Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at 47.31 on Tuesday. The stock has a 50 day moving average price of $49.91 and a 200-day moving average price of $57.09. The company has a market cap of $8.14 billion, a P/E ratio of 27.02 and a beta of 0.66. Akamai Technologies, Inc. has a 1-year low of $45.41 and a 1-year 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. Akamai Technologies’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. Analysts predict that Akamai Technologies, Inc. will post $2.52 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “World Asset Management Inc Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)” was posted by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/08/08/world-asset-management-inc-decreases-stake-in-akamai-technologies-inc-nasdaqakam.html.

Several research analysts have recently commented on the company. B. Riley reiterated a “buy” rating and issued a $66.00 target price on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $56.00 target price (down previously from $58.00) on shares of Akamai Technologies in a research report on Wednesday, July 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of Akamai Technologies in a research report on Wednesday, July 26th. Instinet assumed coverage on Akamai Technologies in a research report on Thursday, May 25th. They issued a “neutral” rating and a $47.62 target price for the company. Finally, Oppenheimer Holdings, Inc. decreased their target price on Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, July 26th. 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 given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.76.

In other news, CEO F Thomson Leighton acquired 19,817 shares of Akamai Technologies stock in a transaction on Friday, July 14th. The shares were purchased at an average price of $50.45 per share, with a total value of $999,767.65. Following the acquisition, the chief executive officer now owns 205,861 shares in the company, valued at $10,385,687.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul Sagan sold 17,889 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, 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. Over the last 90 days, insiders have purchased 66,410 shares of company stock worth $3,233,594. 3.20% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM).

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

Receive News & Ratings for Akamai Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.