Westpac Banking Corp lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 93.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,934 shares of the technology infrastructure company’s stock after selling 156,664 shares during the period. Westpac Banking Corp’s holdings in Akamai Technologies were worth $545,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 476,166 shares during the period. Clearbridge Investments LLC raised its position in shares of 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 acquiring an additional 717,811 shares during the period. First Trust Advisors LP raised its position in shares of Akamai Technologies by 41.8% in the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after acquiring an additional 1,428,886 shares during the period. Ameriprise Financial Inc. raised its position in shares of 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 acquiring an additional 780,019 shares during the period. Finally, Blue Harbour Group L.P. raised its position in shares of 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 acquiring an additional 381,300 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.

A number of brokerages have weighed in on AKAM. Vetr downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective for the company. in a research report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $56.00 price objective on shares of Akamai Technologies in a research report on Thursday. B. Riley reiterated a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research report on Tuesday, June 6th. Instinet initiated coverage on shares of Akamai Technologies in a research report on Thursday, May 25th. They issued a “neutral” rating and a $47.62 price objective for the company. Finally, BidaskClub downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $61.50.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 46.61 on Friday. The stock has a market cap of $7.99 billion, a PE ratio of 26.62 and a beta of 0.64. The stock has a 50 day moving average of $46.46 and a 200 day moving average of $52.84. Akamai Technologies, Inc. has a 1-year low of $44.65 and a 1-year high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts forecast that Akamai Technologies, Inc. will post $2.52 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/15/westpac-banking-corp-has-545000-holdings-in-akamai-technologies-inc-akam.html.

In other news, CEO F Thomson Leighton acquired 21,554 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average price of $46.91 per share, with a total value of $1,011,098.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic V. Salerno acquired 5,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was purchased at an average cost of $46.83 per share, with a total value of $234,150.00. Following the transaction, the director now owns 62,192 shares of the company’s stock, valued at $2,912,451.36. The disclosure for this purchase can be found here. In the last three months, insiders bought 46,371 shares of company stock valued at $2,245,016. Company insiders own 3.20% of the company’s stock.

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.