Raymond James Financial Services Advisors Inc. lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,643 shares of the technology infrastructure company’s stock after selling 1,053 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Akamai Technologies were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cadence Capital Management LLC grew its holdings in Akamai Technologies by 0.6% during the 2nd quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock valued at $236,000 after buying an additional 30 shares in the last quarter. FTB Advisors Inc. grew its stake in Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after buying an additional 59 shares during the last quarter. Advisory Services Network LLC grew its stake in Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 168 shares during the last quarter. Opes Advisors Inc grew its stake in Akamai Technologies by 5.1% during the 2nd quarter. Opes Advisors Inc now owns 5,509 shares of the technology infrastructure company’s stock worth $253,000 after buying an additional 267 shares during the last quarter. Finally, Mastrapasqua Asset Management Inc. grew its stake in Akamai Technologies by 0.6% during the 2nd quarter. Mastrapasqua Asset Management Inc. now owns 51,432 shares of the technology infrastructure company’s stock worth $2,562,000 after buying an additional 307 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies, Inc. (AKAM) opened at $56.50 on Friday. The stock has a market capitalization of $9,546.92, a PE ratio of 29.40, a PEG ratio of 2.23 and a beta of 0.68. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million during 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 company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. sell-side analysts expect that Akamai Technologies, Inc. will post 1.89 earnings per share for the current year.

Several research analysts recently weighed in on AKAM shares. Wells Fargo & Company set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research note on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating and set a $66.00 price target on shares of Akamai Technologies in a research report on Thursday, October 12th. Credit Suisse Group lifted their price target on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Nomura lifted their price target on Akamai Technologies from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Vetr raised Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 price target for the company in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Akamai Technologies has an average rating of “Hold” and a consensus target price of $59.59.

In other Akamai Technologies news, CEO F Thomson Leighton purchased 19,670 shares of Akamai Technologies stock in a transaction that occurred on Monday, October 16th. The stock was bought at an average price of $50.83 per share, with a total value of $999,826.10. Following the acquisition, the chief executive officer now owns 226,950 shares of the company’s stock, valued at approximately $11,535,868.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Aaron Ahola sold 2,893 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the transaction, the senior vice president now directly owns 8,046 shares of the company’s stock, valued at approximately $421,932.24. The disclosure for this sale can be found here. In the last three months, insiders sold 31,181 shares of company stock valued at $1,614,560. Insiders own 3.20% of the company’s stock.

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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.

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

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