Fiduciary Trust Co. Has $238,000 Holdings in Akamai Technologies, Inc. (AKAM)

Fiduciary Trust Co. cut its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,787 shares of the technology infrastructure company’s stock after selling 1,559 shares during the quarter. Fiduciary Trust Co.’s holdings in Akamai Technologies were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AKAM. First Trust Advisors LP lifted its stake in 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 valued at $241,545,000 after acquiring an additional 1,428,886 shares during the last quarter. AQR Capital Management LLC lifted its stake in Akamai Technologies by 49.0% in the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock valued at $151,931,000 after acquiring an additional 836,384 shares during the last quarter. Ameriprise Financial Inc. lifted 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 valued at $203,324,000 after acquiring an additional 780,019 shares during the last quarter. Clearbridge Investments LLC lifted 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 valued at $368,794,000 after acquiring an additional 717,811 shares during the last quarter. Finally, FIL Ltd lifted its stake in Akamai Technologies by 107.0% in the first quarter. FIL Ltd now owns 1,137,061 shares of the technology infrastructure company’s stock valued at $67,883,000 after acquiring an additional 587,754 shares during the last quarter. Hedge funds and other institutional investors own 84.45% of the company’s stock.

A number of research firms have issued reports on AKAM. B. Riley reiterated a “buy” rating and issued a $66.00 target price on shares of Akamai Technologies in a research note on Sunday, June 11th. Instinet started coverage on shares of Akamai Technologies in a research note on Thursday, May 25th. They issued a “neutral” rating and a $47.62 price objective for the company. Nomura started coverage on shares of Akamai Technologies in a research note on Thursday, May 25th. They issued a “neutral” rating and a $50.00 price objective for the company. Piper Jaffray Companies restated a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a research note on Wednesday, July 26th. Finally, BidaskClub cut shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $61.50.

In other news, Director Paul Sagan sold 17,889 shares of Akamai Technologies stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $49.53, for a total transaction of $886,042.17. Following the completion of the sale, the director now owns 64,147 shares of the company’s stock, valued at $3,177,200.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO F Thomson Leighton bought 21,554 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average cost of $46.91 per share, with a total value of $1,011,098.14. The disclosure for this purchase can be found here. Insiders have bought 66,768 shares of company stock valued at $3,244,877 in the last three months. Insiders own 3.20% of the company’s stock.

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Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at 46.47 on Tuesday. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 26.54 and a beta of 0.64. The firm has a 50-day moving average of $46.79 and a 200 day moving average of $53.09.

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

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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